Pictet Asset Management Holding SA Sells 4,112 Shares of FedEx Co. (NYSE:FDX)

Pictet Asset Management Holding SA lessened its stake in FedEx Co. (NYSE:FDX) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,397 shares of the shipping service provider’s stock after selling 4,112 shares during the quarter. Pictet Asset Management Holding SA’s holdings in FedEx were worth $27,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. bLong Financial LLC bought a new stake in FedEx in the fourth quarter valued at approximately $391,000. Virtu Financial LLC bought a new stake in shares of FedEx in the 3rd quarter valued at $3,405,000. Lodestone Wealth Management LLC acquired a new stake in FedEx during the 4th quarter worth $461,000. Wedmont Private Capital lifted its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC acquired a new position in FedEx in the fourth quarter valued at about $26,855,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FDX. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $302.71.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

NYSE:FDX opened at $244.07 on Tuesday. The firm’s fifty day moving average price is $255.97 and its two-hundred day moving average price is $270.59. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $58.48 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a one year low of $217.22 and a one year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 34.63%.

FedEx 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.