FedEx Co. (NYSE:FDX) Position Trimmed by Sandy Spring Bank

Sandy Spring Bank decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,508 shares of the shipping service provider’s stock after selling 588 shares during the period. Sandy Spring Bank’s holdings in FedEx were worth $706,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% during the fourth 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 during the period. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. Finally, Activest Wealth Management acquired a new position in shares of FedEx during the fourth quarter valued at $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the 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 completion of the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FDX shares. Stephens reduced their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial assumed coverage on shares of FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target for the company. TD Cowen reduced 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. BMO Capital Markets reduced their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday. Finally, Citigroup reduced their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $301.60.

FedEx Price Performance

NYSE FDX opened at $230.25 on Friday. The stock’s 50-day moving average price is $259.95 and its two-hundred day moving average price is $272.64. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 1 year low of $217.22 and a 1 year high of $313.84.

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

FedEx Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.40%. FedEx’s dividend payout ratio is 35.18%.

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.