FedEx Co. (NYSE:FDX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 10.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 147,734 shares of the shipping service provider’s stock after selling 18,089 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of FedEx worth $41,562,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FedEx by 30.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock worth $3,847,000 after acquiring an additional 3,330 shares during the period. Highview Capital Management LLC DE boosted its holdings in FedEx by 10.0% in the 3rd quarter. Highview Capital Management LLC DE now owns 4,372 shares of the shipping service provider’s stock worth $1,197,000 after acquiring an additional 396 shares during the period. Highline Wealth Partners LLC purchased a new position in FedEx in the 3rd quarter worth approximately $31,000. Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in FedEx by 7.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,320 shares of the shipping service provider’s stock worth $2,277,000 after acquiring an additional 574 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other news, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus reduced their target price on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets increased their target price on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

FedEx Price Performance

Shares of NYSE FDX opened at $256.09 on Thursday. FedEx Co. has a 1-year low of $239.07 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business’s fifty day moving average price is $269.38 and its two-hundred day moving average price is $277.65. The firm has a market capitalization of $61.68 billion, a PE ratio of 16.32, a P/E/G ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $3.99 earnings per share. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.