First Horizon Advisors Inc. Sells 591 Shares of FedEx Co. (NYSE:FDX)

First Horizon Advisors Inc. decreased its stake in shares of FedEx Co. (NYSE:FDX) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,344 shares of the shipping service provider’s stock after selling 591 shares during the quarter. First Horizon Advisors Inc.’s holdings in FedEx were worth $941,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the last quarter. Finally, Sentry LLC grew its holdings in FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after buying an additional 5,404 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Performance

Shares of NYSE:FDX opened at $252.94 on Tuesday. The firm has a 50 day moving average of $270.14 and a 200 day moving average of $277.95. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $60.92 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. FedEx Co. has a 52 week low of $239.07 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS 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 posted $3.99 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Stephens decreased their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Citigroup upped their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler lowered 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

About FedEx

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.