FedEx Co. (NYSE:FDX) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 50.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,625 shares of the shipping service provider’s stock after selling 24,931 shares during the quarter. Congress Wealth Management LLC DE’s holdings in FedEx were worth $6,928,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Fortitude Family Office LLC increased its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at approximately $28,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new position in FedEx during the 4th quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’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 of the company’s stock, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Trading Down 0.5 %

NYSE FDX opened at $241.19 on Wednesday. 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 1-year low of $217.22 and a 1-year high of $313.84. The firm’s fifty day simple moving average is $258.58 and its 200-day simple moving average is $271.75. The company has a market capitalization of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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). The firm had revenue of $22.16 billion for 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business earned $3.86 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm 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 of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx’s dividend payout ratio (DPR) is 34.63%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FDX. Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.60.

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.