Delta Asset Management LLC TN Has $2.10 Million Stake in FedEx Co. (NYSE:FDX)

Delta Asset Management LLC TN lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 24.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,460 shares of the shipping service provider’s stock after selling 2,426 shares during the period. Delta Asset Management LLC TN’s holdings in FedEx were worth $2,099,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of FedEx during the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC raised its stake in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its position in FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after purchasing an additional 321,141 shares during the period. Franklin Resources Inc. increased its holdings in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the period. Finally, KBC Group NV raised its position in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after buying an additional 226,608 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Trading Up 1.1 %

FDX opened at $243.78 on Thursday. The company has a market cap of $58.72 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a fifty day moving average price of $257.92 and a two-hundred day moving average price of $271.55. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly 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). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.86 earnings per share. Analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.26%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FDX. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. lowered their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. UBS Group dropped their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $300.60.

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.