Skba Capital Management LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Skba Capital Management LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,720 shares of the shipping service provider’s stock after selling 1,200 shares during the period. Skba Capital Management LLC’s holdings in FedEx were worth $9,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its position in FedEx by 6.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 39,507 shares of the shipping service provider’s stock worth $11,115,000 after acquiring an additional 2,340 shares during the period. Clearbridge Investments LLC raised its holdings in FedEx by 7.3% in the 4th quarter. Clearbridge Investments LLC now owns 24,214 shares of the shipping service provider’s stock valued at $6,812,000 after buying an additional 1,647 shares during the period. United Bank lifted its position in FedEx by 53.5% in the fourth quarter. United Bank now owns 3,450 shares of the shipping service provider’s stock valued at $971,000 after buying an additional 1,203 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in FedEx by 7.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 486,388 shares of the shipping service provider’s stock worth $136,836,000 after buying an additional 35,188 shares during the period. Finally, Physician Wealth Advisors Inc. acquired a new stake in shares of FedEx during the fourth quarter valued at about $46,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.9 %

FDX opened at $241.75 on Monday. The firm has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The business’s 50 day moving average is $256.59 and its two-hundred day moving average is $270.89. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $3.86 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared 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 2.28%. FedEx’s dividend payout ratio is presently 34.63%.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $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. Insiders sold 12,711 shares of company stock worth $3,312,693 over the last 90 days. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FDX shares. Raymond James decreased their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Truist Financial began coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. Wells Fargo & Company cut their price objective on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

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.