Napatree Capital LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Napatree Capital LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,968 shares of the shipping service provider’s stock after selling 77 shares during the quarter. Napatree Capital LLC’s holdings in FedEx were worth $554,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FDX. United Bank purchased a new position in FedEx in the 3rd quarter worth about $615,000. Quest Partners LLC bought a new stake in shares of FedEx during the 3rd quarter valued at about $123,000. Citizens Financial Group Inc. RI grew its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after purchasing an additional 13,093 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of FedEx by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 11,823 shares of the shipping service provider’s stock valued at $3,236,000 after purchasing an additional 667 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of FedEx stock opened at $230.25 on Friday. The firm has a market cap of $55.46 billion, a P/E ratio of 14.68, a P/E/G 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 Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock’s fifty day moving average price is $259.95 and its 200-day moving average price is $272.49.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.86 EPS. On average, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent research reports. BMO Capital Markets cut their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. Piper Sandler downgraded FedEx to a “neutral” rating in a research note on Monday, February 3rd. TD Cowen cut their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday. Finally, Citigroup cut their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.67.

FedEx Company 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.