Colonial Trust Advisors Raises Stock Position in FedEx Co. (NYSE:FDX)

Colonial Trust Advisors increased its position in shares of FedEx Co. (NYSE:FDX) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,100 shares of the shipping service provider’s stock after buying an additional 721 shares during the quarter. Colonial Trust Advisors’ holdings in FedEx were worth $6,780,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in FedEx in the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx in the fourth quarter valued at approximately $234,028,000. ACR Alpine Capital Research LLC increased its stake in FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC increased its stake in FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock valued at $90,751,000 after purchasing an additional 321,141 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. UBS Group dropped their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Piper Sandler downgraded FedEx to a “neutral” rating in a report on Monday, February 3rd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Finally, Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the company from $283.00 to $221.00 in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.63.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated 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 owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction 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 FedEx stock in a transaction dated 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 owns 8,904 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

FedEx Trading Up 10.0 %

NYSE:FDX opened at $217.96 on Thursday. The stock has a fifty day moving average price of $245.77 and a two-hundred day moving average price of $266.56. The stock has a market capitalization of $52.22 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last announced 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the prior year, the business earned $3.86 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

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.