Sandy Spring Bank Sells 588 Shares of FedEx Co. (NYSE:FDX)

Sandy Spring Bank lowered its stake in shares of FedEx Co. (NYSE:FDX) by 19.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,508 shares of the shipping service provider’s stock after selling 588 shares during the period. Sandy Spring Bank’s holdings in FedEx were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on 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 completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Stock Down 6.5 %

NYSE FDX opened at $230.25 on Friday. The stock’s 50 day simple moving average is $259.95 and its 200 day simple moving average is $272.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The firm has a market cap of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the firm earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.40%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Barclays reduced their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Company Profile

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.