Cottage Street Advisors LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Cottage Street Advisors LLC lowered its stake in FedEx Co. (NYSE:FDX) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,637 shares of the shipping service provider’s stock after selling 113 shares during the quarter. FedEx makes up 1.0% of Cottage Street Advisors LLC’s portfolio, making the stock its 29th biggest position. Cottage Street Advisors LLC’s holdings in FedEx were worth $1,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its stake 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 acquiring an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in FedEx during the 4th quarter valued at about $28,000. City Holding Co. purchased a new position in FedEx in the fourth quarter worth about $28,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new stake in shares of FedEx during the fourth quarter valued at approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets cut their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Finally, Piper Sandler lowered 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 assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $300.60.

Insider Buying and Selling

In other news, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on 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 owns 8,904 shares of the company’s stock, valued at $2,461,510.80. The trade was 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 owned by corporate insiders.

FedEx Stock Down 0.5 %

FDX stock opened at $241.19 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The stock has a market capitalization of $58.09 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50 day moving average of $258.58 and a 200 day moving average of $271.75.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the firm posted $3.86 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.29%. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

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.