New South Capital Management Inc. Cuts Position in FedEx Co. (NYSE:FDX)

New South Capital Management Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,538 shares of the shipping service provider’s stock after selling 2,158 shares during the quarter. FedEx comprises approximately 2.0% of New South Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. New South Capital Management Inc. owned about 0.07% of FedEx worth $48,259,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FDX. Fortitude Family Office LLC raised its position in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx in the fourth quarter valued at $28,000. City Holding Co. acquired a new stake in FedEx in the fourth quarter valued at $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. Stephens lowered their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $319.74.

FedEx Stock Performance

NYSE FDX opened at $250.64 on Thursday. The business’s 50-day moving average price is $267.66 and its 200 day moving average price is $276.69. FedEx Co. has a twelve month low of $242.92 and a twelve month high of $313.84. The company has a market capitalization of $60.37 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. 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 released 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. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 earnings per share. On average, research analysts predict that FedEx Co. will post 19.14 earnings per share for the current 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 issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.20%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Transactions at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were bought 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 $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now 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. Company insiders own 8.87% of the company’s stock.

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.