Truist Financial Corp Decreases Stake in FedEx Co. (NYSE:FDX)

Truist Financial Corp lessened its position in shares of FedEx Co. (NYSE:FDX) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,741 shares of the shipping service provider’s stock after selling 1,454 shares during the quarter. Truist Financial Corp’s holdings in FedEx were worth $24,122,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx during the fourth quarter valued at $28,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter valued at $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s 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 of the company’s stock, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $267.02 on Thursday. The stock has a market capitalization of $64.31 billion, a PE ratio of 17.02, a P/E/G ratio of 1.11 and a beta of 1.18. The business has a 50 day simple moving average of $271.65 and a two-hundred day simple moving average of $278.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $235.32 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $3.99 EPS. On average, research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets upped their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut their price target on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company boosted their price target on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price target on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.87.

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.