Wells Fargo & Company MN Reduces Holdings in FedEx Co. (NYSE:FDX)

Wells Fargo & Company MN lowered its stake in FedEx Co. (NYSE:FDX) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 615,729 shares of the shipping service provider’s stock after selling 14,153 shares during the quarter. Wells Fargo & Company MN owned approximately 0.26% of FedEx worth $173,223,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of FDX. Fortitude Family Office LLC lifted its position in shares of FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter valued at about $28,000. City Holding Co. purchased a new position in FedEx in the 4th quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the 4th quarter worth about $28,000. Finally, Activest Wealth Management purchased a new stake in shares of FedEx during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective on the stock. Citigroup dropped their target price on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, Stephens dropped their price objective 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction 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. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Alan Smith sold 6,155 shares of the 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 $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,711 shares of company stock worth $3,312,693. Corporate insiders own 8.87% of the company’s stock.

FedEx Trading Down 2.8 %

NYSE:FDX opened at $209.90 on Friday. FedEx Co. has a one year low of $203.90 and a one year high of $313.84. The business’s 50-day simple moving average is $252.45 and its 200 day simple moving average is $268.95. 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 stock has a market cap of $50.29 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.63%. FedEx’s payout ratio is 34.63%.

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.