MMA Asset Management LLC Sells 1,574 Shares of FedEx Co. (NYSE:FDX)

MMA Asset Management LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 68.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 738 shares of the shipping service provider’s stock after selling 1,574 shares during the quarter. MMA Asset Management LLC’s holdings in FedEx were worth $208,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its holdings in FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares during the last quarter. Harbour Investments Inc. raised its holdings in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after purchasing an additional 40 shares during the last quarter. Cetera Trust Company N.A raised its holdings in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after purchasing an additional 40 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its holdings in FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FDX shares. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. TD Cowen raised their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Barclays raised their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

FDX opened at $263.11 on Friday. 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 company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.11 and a beta of 1.18. The firm’s fifty day moving average price is $268.78 and its two-hundred day moving average price is $277.36. FedEx Co. has a 1 year low of $242.92 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 EPS. As a group, analysts anticipate 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 will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.10%. FedEx’s payout ratio is currently 35.18%.

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.