Prudential Financial Inc. Sells 394,376 Shares of FedEx Co. (NYSE:FDX)

Prudential Financial Inc. reduced its position in FedEx Co. (NYSE:FDX) by 73.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,347 shares of the shipping service provider’s stock after selling 394,376 shares during the quarter. Prudential Financial Inc.’s holdings in FedEx were worth $39,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. bLong Financial LLC purchased a new stake in shares of FedEx in the 4th quarter worth approximately $391,000. Virtu Financial LLC purchased a new stake in FedEx during the third quarter worth $3,405,000. Lodestone Wealth Management LLC bought a new stake in FedEx during the 4th quarter valued at $461,000. Wedmont Private Capital increased its holdings in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC bought a new position in shares of FedEx in the 4th quarter worth $26,855,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost 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 in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of NYSE FDX opened at $241.19 on Wednesday. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company’s fifty day moving average price is $258.58 and its 200 day moving average price is $271.75. The company has a market capitalization of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

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

FedEx Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Stephens lowered their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Raymond James reduced their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.60.

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.