Intech Investment Management LLC Has $10.16 Million Stake in FedEx Co. (NYSE:FDX)

Intech Investment Management LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 62.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,100 shares of the shipping service provider’s stock after selling 59,244 shares during the quarter. Intech Investment Management LLC’s holdings in FedEx were worth $10,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Kentucky Trust Co bought a new stake in shares of FedEx during the 4th quarter worth $28,000. Finally, Activest Wealth Management purchased a new stake in FedEx in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.3 %

NYSE FDX opened at $245.46 on Tuesday. FedEx Co. has a 12 month low of $239.50 and a 12 month high of $313.84. The stock has a market cap of $59.12 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23. The stock’s fifty day moving average price is $262.47 and its 200-day moving average price is $273.86. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $3.99 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. TD Cowen lifted their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price for the company. Finally, Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $318.04.

Insider Activity

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The stock was 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 represents 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, Director Amy B. Lane bought 333 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

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.