Sigma Planning Corp Lowers Holdings in FedEx Co. (NYSE:FDX)

Sigma Planning Corp lowered its position in shares of FedEx Co. (NYSE:FDX) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,535 shares of the shipping service provider’s stock after selling 518 shares during the quarter. Sigma Planning Corp’s holdings in FedEx were worth $1,276,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FDX. Geode Capital Management LLC raised its holdings in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in FedEx by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares in the last quarter. Finally, Sentry LLC boosted its stake in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock worth $342,412,000 after acquiring an additional 5,404 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus decreased their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other news, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased 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 $2,484,176.66. This represents a 12.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $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. 8.87% of the stock is currently owned by insiders.

FedEx Stock Performance

NYSE:FDX opened at $252.94 on Tuesday. The company has a market cap of $60.92 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.11 and a beta of 1.18. The firm’s 50 day moving average is $270.14 and its two-hundred day moving average is $277.95. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company posted $3.99 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect 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. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 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.