FedEx Co. (NYSE:FDX) Shares Bought by German American Bancorp Inc.

German American Bancorp Inc. raised its holdings in shares of FedEx Co. (NYSE:FDX) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,417 shares of the shipping service provider’s stock after buying an additional 326 shares during the period. German American Bancorp Inc.’s holdings in FedEx were worth $7,432,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Trust Company N.A raised its stake in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after acquiring an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its position in FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. boosted its stake in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after purchasing an additional 40 shares in the last quarter. Richard P Slaughter Associates Inc increased its stake in shares of FedEx by 0.5% in the fourth quarter. Richard P Slaughter Associates Inc now owns 8,107 shares of the shipping service provider’s stock valued at $2,281,000 after buying an additional 42 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its holdings in shares of FedEx by 2.6% in the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock valued at $473,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was 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. This represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

FedEx Stock Down 2.4 %

FedEx stock opened at $205.13 on Tuesday. FedEx Co. has a fifty-two week low of $199.60 and a fifty-two week high of $313.84. The firm has a market capitalization of $49.15 billion, a PE ratio of 13.07, a P/E/G ratio of 1.11 and a beta of 1.24. The company’s 50-day moving average is $250.91 and its 200-day moving average is $268.08. 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 (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.86 EPS. Sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. TD Cowen reduced their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus lowered their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Piper Sandler cut shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.71.

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.