935 Shares in FedEx Co. (NYSE:FDX) Acquired by Broyhill Asset Management

Broyhill Asset Management acquired a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 935 shares of the shipping service provider’s stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of FedEx in the fourth quarter valued at $28,000. City Holding Co. acquired a new stake in shares of FedEx during the fourth quarter valued at $28,000. Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx in the 4th quarter valued at about $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FDX. Barclays cut their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Truist Financial assumed coverage on FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective on the stock. Stephens dropped their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.63.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s 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 sale, the director now directly owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $207.46 on Monday. The company has a market capitalization of $49.71 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a fifty day moving average of $244.07 and a 200-day moving average of $265.74. FedEx Co. has a one year low of $194.30 and a one year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 earnings per share. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.66%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.