FedEx Co. (NYSE:FDX) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH cut its stake in FedEx Co. (NYSE:FDX) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,739 shares of the shipping service provider’s stock after selling 5,888 shares during the period. Erste Asset Management GmbH’s holdings in FedEx were worth $5,816,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. United Bank acquired a new stake in shares of FedEx during the 3rd quarter valued at $615,000. Apollon Wealth Management LLC lifted its holdings in shares of FedEx by 12.8% during the third quarter. Apollon Wealth Management LLC now owns 3,861 shares of the shipping service provider’s stock valued at $1,057,000 after purchasing an additional 437 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of FedEx by 1.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after purchasing an additional 40 shares during the period. Haverford Trust Co increased its stake in FedEx by 7.3% in the 3rd quarter. Haverford Trust Co now owns 1,840 shares of the shipping service provider’s stock worth $504,000 after purchasing an additional 125 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in FedEx by 10.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,713 shares of the shipping service provider’s stock worth $3,479,000 after buying an additional 1,174 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FDX shares. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company decreased their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Truist Financial initiated coverage on FedEx in a research report on Thursday. They issued a “buy” rating and a $305.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

Insiders Place Their Bets

In related news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction 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 approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost 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 in the company, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $240.74 on Friday. FedEx Co. has a fifty-two week low of $239.50 and a fifty-two week high of $313.84. The stock’s 50-day moving average is $263.68 and its two-hundred day moving average is $274.89. The firm has a market cap of $57.98 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period in the previous year, the company earned $3.99 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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