FedEx Co. (NYSE:FDX) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,539 shares of the shipping service provider’s stock after selling 60 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in FedEx were worth $1,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in 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 acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. purchased a new position in FedEx during the fourth quarter worth approximately $28,000. Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx in the 4th quarter valued at $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial began coverage on shares of FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price target on the stock. BMO Capital Markets dropped their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Wells Fargo & Company lowered their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $298.96.

FedEx Stock Up 0.7 %

FDX stock opened at $206.63 on Wednesday. The company’s 50 day moving average price is $236.77 and its 200 day moving average price is $262.84. The firm has a market capitalization of $49.51 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.11 and a beta of 1.24. 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 quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.86 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business 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. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.67%. FedEx’s dividend payout ratio is currently 34.63%.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s 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 transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is owned by corporate insiders.

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.