L & S Advisors Inc Has $2.47 Million Stock Holdings in FedEx Co. (NYSE:FDX)

L & S Advisors Inc lowered its stake in FedEx Co. (NYSE:FDX) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,766 shares of the shipping service provider’s stock after selling 487 shares during the quarter. L & S Advisors Inc’s holdings in FedEx were worth $2,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of FedEx by 144.4% during the 4th 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 in the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the 4th quarter valued at about $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FDX shares. Raymond James dropped their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stephens decreased their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company cut their price target on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Finally, Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.71.

FedEx Stock Performance

NYSE FDX opened at $241.75 on Friday. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84. The firm has a market capitalization of $57.92 billion, a price-to-earnings ratio of 15.41, a P/E/G 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 firm’s 50 day simple moving average is $256.59 and its 200 day simple moving average is $270.98.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the business posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

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.