Federated Hermes Inc. Decreases Stake in FedEx Co. (NYSE:FDX)

Federated Hermes Inc. lessened its holdings in FedEx Co. (NYSE:FDX) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 255,159 shares of the shipping service provider’s stock after selling 16,310 shares during the period. Federated Hermes Inc.’s holdings in FedEx were worth $71,784,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. bLong Financial LLC bought a new position in FedEx in the 4th quarter valued at $391,000. Virtu Financial LLC purchased a new position in shares of FedEx in the 3rd quarter worth about $3,405,000. Lodestone Wealth Management LLC bought a new position in FedEx during the fourth quarter valued at about $461,000. Wedmont Private Capital increased its holdings in FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC bought a new stake in FedEx in the fourth quarter worth about $26,855,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of FedEx 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 directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

FDX has been the subject of a number of research reports. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Bank of America reduced their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Citigroup cut their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, UBS Group lowered their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.71.

FedEx Price Performance

FDX opened at $209.90 on Monday. 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 stock has a market capitalization of $50.29 billion, a P/E ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The stock has a 50-day moving average price of $252.45 and a 200-day moving average price of $268.75. FedEx Co. has a 12-month low of $203.27 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 earnings per share. Equities analysts predict 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 was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.63%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

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.