Cadence Bank Has $9.08 Million Stock Position in FedEx Co. (NYSE:FDX)

Cadence Bank increased its position in shares of FedEx Co. (NYSE:FDX) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,279 shares of the shipping service provider’s stock after acquiring an additional 459 shares during the quarter. Cadence Bank’s holdings in FedEx were worth $9,081,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in shares of 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 purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. bought a new position in FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new stake in FedEx during the 4th quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the 4th quarter valued at $28,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $207.45 on Friday. The business has a 50-day moving average of $240.13 and a 200-day moving average of $264.06. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s payout ratio is 34.63%.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company decreased their target price on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. UBS Group cut their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

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.