FedEx Co. (NYSE:FDX) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lowered its position in shares of FedEx Co. (NYSE:FDX) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,173 shares of the shipping service provider’s stock after selling 166 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in FedEx were worth $10,458,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in FDX. Summitry LLC acquired a new position in FedEx in the 4th quarter worth approximately $204,000. Modern Wealth Management LLC increased its stake in shares of FedEx by 4.4% in the fourth quarter. Modern Wealth Management LLC now owns 2,139 shares of the shipping service provider’s stock worth $552,000 after acquiring an additional 91 shares during the period. Sound Shore Management Inc. CT raised its holdings in shares of FedEx by 12.8% during the fourth quarter. Sound Shore Management Inc. CT now owns 241,475 shares of the shipping service provider’s stock worth $67,934,000 after purchasing an additional 27,444 shares during the last quarter. Syntax Research Inc. lifted its position in FedEx by 1.2% during the fourth quarter. Syntax Research Inc. now owns 11,936 shares of the shipping service provider’s stock valued at $3,358,000 after purchasing an additional 143 shares during the period. Finally, Horrell Capital Management Inc. boosted its holdings in FedEx by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,675 shares of the shipping service provider’s stock valued at $7,504,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. TD Cowen decreased their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $300.60.

FedEx Stock Performance

FedEx stock opened at $241.19 on Wednesday. The stock has a market cap of $58.09 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. 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 firm has a 50 day simple moving average of $258.58 and a 200-day simple moving average of $271.75. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. FedEx’s revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Insider Buying and Selling at FedEx

In other news, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now 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 document filed with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was 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 in the company, valued at approximately $2,461,510.80. The trade was 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 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.