FedEx Co. (NYSE:FDX) Holdings Decreased by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in FedEx Co. (NYSE:FDX) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,390,945 shares of the shipping service provider’s stock after selling 318,385 shares during the quarter. FedEx makes up about 2.7% of Primecap Management Co. CA’s holdings, making the stock its 3rd biggest holding. Primecap Management Co. CA owned 0.05% of FedEx worth $3,485,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. United Bank purchased a new stake in shares of FedEx in the 3rd quarter worth about $615,000. Empowered Funds LLC grew its position in FedEx by 85.4% during the 3rd quarter. Empowered Funds LLC now owns 8,944 shares of the shipping service provider’s stock valued at $2,448,000 after purchasing an additional 4,121 shares during the last quarter. Natixis Advisors LLC grew its position in FedEx by 4.8% during the 3rd quarter. Natixis Advisors LLC now owns 157,002 shares of the shipping service provider’s stock valued at $42,968,000 after purchasing an additional 7,238 shares during the last quarter. Quest Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at about $123,000. Finally, Mendel Capital Management LLC grew its position in FedEx by 2.1% during the 3rd quarter. Mendel Capital Management LLC now owns 5,249 shares of the shipping service provider’s stock valued at $1,436,000 after purchasing an additional 108 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE FDX opened at $245.46 on Tuesday. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23. The company’s 50 day moving average is $262.47 and its two-hundred day moving average is $273.86. 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 earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the business earned $3.99 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Transactions at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Raymond James downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. UBS Group increased their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Truist Financial assumed coverage on shares of FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $318.04.

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.