United Bank Buys 1,203 Shares of FedEx Co. (NYSE:FDX)

United Bank grew its stake in shares of FedEx Co. (NYSE:FDX) by 53.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,450 shares of the shipping service provider’s stock after acquiring an additional 1,203 shares during the quarter. United Bank’s holdings in FedEx were worth $971,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in FedEx during the fourth quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $234,028,000. ACR Alpine Capital Research LLC increased its stake in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in FedEx by 22,317.0% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in FedEx by 8.6% during 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. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.9 %

FDX opened at $241.75 on Friday. The stock has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. 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’s 50-day moving average price is $256.59 and its two-hundred day moving average price is $270.98. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.86 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business 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 $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.28%. FedEx’s payout ratio is currently 34.63%.

Analyst Ratings Changes

A number of research firms have recently commented on FDX. Truist Financial began coverage on FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reduced their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale 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 currently owned by company insiders.

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.