Umpqua Bank Purchases 137 Shares of FedEx Co. (NYSE:FDX)

Umpqua Bank raised its position in shares of FedEx Co. (NYSE:FDX) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,282 shares of the shipping service provider’s stock after purchasing an additional 137 shares during the quarter. Umpqua Bank’s holdings in FedEx were worth $634,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the period. Peoples Financial Services CORP. bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the 4th quarter valued at approximately $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of FDX stock opened at $230.25 on Friday. The stock’s 50-day moving average is $259.95 and its 200 day moving average is $272.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $217.22 and a 1-year high of $313.84. The company has a market cap of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the business posted $3.86 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the company’s stock in a transaction on 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 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. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent analyst reports. UBS Group dropped their price target on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler downgraded FedEx to a “neutral” rating in a research note on Monday, February 3rd. Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Bank of America dropped their price target on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research note on Friday. Finally, Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.60.

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.