FedEx Co. (NYSE:FDX) Stock Holdings Decreased by Paragon Capital Management LLC

Paragon Capital Management LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,402 shares of the shipping service provider’s stock after selling 927 shares during the period. FedEx comprises approximately 3.5% of Paragon Capital Management LLC’s holdings, making the stock its 9th largest position. Paragon Capital Management LLC’s holdings in FedEx were worth $6,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Citizens Financial Group Inc. RI grew its stake in FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares in the last quarter. Cetera Trust Company N.A grew its stake in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after purchasing an additional 40 shares in the last quarter. Griffin Asset Management Inc. grew its stake in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares in the last quarter. Aviso Financial Inc. grew its stake in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Finally, Richard P Slaughter Associates Inc grew its stake in FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after purchasing an additional 42 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’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 transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Stock Down 0.5 %

Shares of FDX opened at $246.00 on Friday. The company has a market capitalization of $59.25 billion, a PE ratio of 15.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 12 month low of $226.11 and a 12 month high of $313.84. The stock’s 50-day moving average price is $260.76 and its two-hundred day moving average price is $273.11. 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 (NYSE:FDX) last announced 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 company 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 in the previous year, the firm posted $3.86 earnings per share. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Truist Financial assumed coverage on FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. TD Cowen raised their price objective on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Bank of America raised their price objective on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $317.48.

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.