Brandes Investment Partners LP Cuts Stake in FedEx Co. (NYSE:FDX)

Brandes Investment Partners LP trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 588,209 shares of the shipping service provider’s stock after selling 17,108 shares during the quarter. FedEx accounts for approximately 1.8% of Brandes Investment Partners LP’s investment portfolio, making the stock its 14th largest holding. Brandes Investment Partners LP owned approximately 0.24% of FedEx worth $165,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC increased its stake 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 buying an additional 52 shares during the period. Peoples Financial Services CORP. purchased a new position in shares of FedEx during the fourth quarter valued at $28,000. City Holding Co. purchased a new position in shares of FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co purchased a new position in shares of FedEx during the fourth quarter valued at $28,000. Finally, Activest Wealth Management purchased a new position in shares of FedEx during the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several research reports. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. TD Cowen lifted their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.04.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the business’s 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 completion of the sale, the director now owns 8,904 shares of the company’s stock, 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. 8.87% of the stock is currently owned by corporate insiders.

FedEx Trading Up 0.5 %

FedEx stock opened at $242.27 on Friday. 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 Co. has a 52 week low of $239.50 and a 52 week high of $313.84. The company has a market capitalization of $58.35 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The stock has a 50-day moving average price of $263.04 and a 200 day moving average price of $274.51.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the previous year, the company posted $3.99 earnings per share. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is presently 35.18%.

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.