Capital International Investors Sells 609,783 Shares of FedEx Co. (NYSE:FDX)

Capital International Investors reduced its stake in shares of FedEx Co. (NYSE:FDX) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,260,479 shares of the shipping service provider’s stock after selling 609,783 shares during the quarter. Capital International Investors owned 3.84% of FedEx worth $2,605,069,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new position in FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new position in FedEx during the fourth quarter valued at approximately $28,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the 4th quarter valued at $28,000. Institutional investors 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 company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Barclays decreased their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. TD Cowen dropped their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.63.

FedEx Stock Performance

Shares of FDX opened at $207.45 on Friday. The firm’s fifty day simple moving average is $240.13 and its two-hundred day simple moving average is $264.06. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $49.71 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last released 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the business earned $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.66%. FedEx’s payout ratio is presently 34.63%.

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.