Intrust Bank NA Decreases Stock Position in FedEx Co. (NYSE:FDX)

Intrust Bank NA cut its stake in shares of FedEx Co. (NYSE:FDX) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,375 shares of the shipping service provider’s stock after selling 187 shares during the quarter. Intrust Bank NA’s holdings in FedEx were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FDX. Fortitude Family Office LLC grew its holdings in shares of FedEx by 144.4% in the fourth 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 during the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx during the 4th quarter valued at $28,000. City Holding Co. bought a new stake in FedEx in the 4th quarter worth $28,000. Kentucky Trust Co purchased a new position in shares of FedEx in the fourth quarter valued at about $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx during the fourth quarter valued at about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction 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 $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is owned by insiders.

FedEx Stock Down 0.9 %

NYSE:FDX opened at $241.75 on Monday. The firm has a 50-day simple moving average of $256.59 and a two-hundred day simple moving average of $270.89. The firm has a market cap of $57.92 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 period last year, the business earned $3.86 EPS. FedEx’s revenue was up 1.9% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.28%. FedEx’s payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Wells Fargo & Company reduced their target price on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Truist Financial assumed coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen 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 a consensus target price of $302.71.

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.