FedEx Co. (NYSE:FDX) Position Lowered by Focus Financial Network Inc.

Focus Financial Network Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,082 shares of the shipping service provider’s stock after selling 107 shares during the quarter. Focus Financial Network Inc.’s holdings in FedEx were worth $511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx in the fourth quarter valued at approximately $32,000. Accredited Wealth Management LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $35,000. Finally, Optiver Holding B.V. bought a new stake in FedEx during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens restated an “overweight” rating and set a $300.00 target price on shares of FedEx in a report on Tuesday, May 20th. Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Finally, Truist Financial cut their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $292.54.

FedEx Stock Performance

Shares of FDX opened at $223.95 on Friday. The company has a market capitalization of $53.66 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company’s fifty day moving average price is $216.82 and its 200 day moving average price is $247.37.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, June 23rd. FedEx’s payout ratio is 36.39%.

About FedEx

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.