Brandes Investment Partners LP Reduces Holdings in FedEx Co. (NYSE:FDX)

Brandes Investment Partners LP trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 588,209 shares of the shipping service provider’s stock after selling 17,108 shares during the quarter. FedEx makes up approximately 1.8% of Brandes Investment Partners LP’s investment portfolio, making the stock its 14th largest position. Brandes Investment Partners LP’s holdings in FedEx were worth $165,481,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares during the period. Harbour Investments Inc. increased its stake in FedEx by 1.5% during the 3rd quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after buying an additional 40 shares during the period. Cetera Trust Company N.A increased its stake in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares during the period. Finally, Griffin Asset Management Inc. increased its stake in FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock worth $2,916,000 after buying an additional 40 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and dropped their target price for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $318.04.

FedEx Trading Up 0.5 %

Shares of NYSE:FDX opened at $242.27 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $263.04 and a 200-day moving average of $274.51. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84. The firm has a market cap of $58.35 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.11 and a beta of 1.23.

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

FedEx Dividend Announcement

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 issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s payout ratio is currently 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.