Advisors Asset Management Inc. Has $23.41 Million Position in FedEx Co. (NYSE:FDX)

Advisors Asset Management Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 83,211 shares of the shipping service provider’s stock after selling 9,058 shares during the quarter. Advisors Asset Management Inc.’s holdings in FedEx were worth $23,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% in the 4th 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 in the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter valued at $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter valued at $28,000. Kentucky Trust Co acquired a new position in FedEx in the 4th quarter valued at $28,000. Finally, Activest Wealth Management acquired a new position in FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the business’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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Trading Up 1.3 %

NYSE FDX opened at $245.46 on Tuesday. The business’s 50-day moving average price is $262.47 and its two-hundred day moving average price is $273.86. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The firm has a market capitalization of $59.12 billion, a PE ratio of 15.64, 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 quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.99 EPS. On average, analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FDX shares. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Stifel Nicolaus dropped their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. Finally, Truist Financial started coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

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.