FedEx Co. (NYSE:FDX) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its stake in FedEx Co. (NYSE:FDX) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,119 shares of the shipping service provider’s stock after selling 364 shares during the period. HBK Sorce Advisory LLC’s holdings in FedEx were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of FedEx by 1.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 47,751 shares of the shipping service provider’s stock worth $13,397,000 after acquiring an additional 504 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in FedEx by 69.9% during the fourth quarter. Achmea Investment Management B.V. now owns 32,546 shares of the shipping service provider’s stock worth $9,156,000 after purchasing an additional 13,388 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in FedEx by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,835 shares of the shipping service provider’s stock worth $4,174,000 after purchasing an additional 166 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in FedEx in the fourth quarter valued at $251,000. Finally, Farther Finance Advisors LLC increased its position in shares of FedEx by 4.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,742 shares of the shipping service provider’s stock valued at $490,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 1.1 %

Shares of FDX opened at $240.74 on Friday. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84. The firm has a market capitalization of $57.98 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $263.68 and its 200 day simple moving average is $274.89.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx’s payout ratio is 35.18%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Truist Financial assumed coverage on shares of FedEx in a research note on Thursday. They set a “buy” rating and a $305.00 price objective for the company. TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the transaction, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

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.