Titleist Asset Management LLC Sells 151 Shares of FedEx Co. (NYSE:FDX)

Titleist Asset Management LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,541 shares of the shipping service provider’s stock after selling 151 shares during the period. Titleist Asset Management LLC’s holdings in FedEx were worth $1,840,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. United Bank bought a new position in shares of FedEx in the third quarter worth approximately $615,000. Janus Henderson Group PLC boosted its holdings in FedEx by 1.9% in the 3rd quarter. Janus Henderson Group PLC now owns 26,612 shares of the shipping service provider’s stock worth $7,280,000 after buying an additional 500 shares during the period. IHT Wealth Management LLC increased its stake in FedEx by 15.3% in the 3rd quarter. IHT Wealth Management LLC now owns 4,072 shares of the shipping service provider’s stock worth $1,114,000 after buying an additional 539 shares in the last quarter. Morse Asset Management Inc bought a new stake in FedEx during the third quarter valued at about $465,000. Finally, Redwood Investment Management LLC boosted its stake in shares of FedEx by 4.0% in the third quarter. Redwood Investment Management LLC now owns 4,903 shares of the shipping service provider’s stock worth $1,312,000 after acquiring an additional 190 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were 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 in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays lowered their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. TD Cowen cut their target price 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. UBS Group reduced their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Truist Financial assumed coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective for the company. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx Trading Down 2.8 %

NYSE FDX opened at $209.90 on Friday. FedEx Co. has a 12 month low of $203.90 and a 12 month high of $313.84. The company’s 50-day moving average price is $252.45 and its 200-day moving average price is $268.95. The stock has a market cap of $50.29 billion, a PE ratio of 13.38, a PEG ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results 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 return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the business posted $3.86 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.63%. The ex-dividend date was Monday, March 10th. FedEx’s payout ratio is 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.