FedEx Co. (NYSE:FDX) Position Reduced by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,426 shares of the shipping service provider’s stock after selling 49 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in FedEx were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC boosted its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares in the last quarter. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter worth $28,000. City Holding Co. acquired a new position in shares of FedEx in the fourth quarter worth about $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx in the fourth quarter worth approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and cut their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Bank of America upped their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Piper Sandler lowered FedEx to a “neutral” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Price Performance

Shares of FDX stock opened at $253.97 on Monday. The stock’s fifty day moving average is $270.75 and its 200-day moving average is $278.13. 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 market capitalization of $61.17 billion, a PE ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a 52 week low of $239.07 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.99 earnings per share. Equities research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is 35.18%.

Insider Activity at FedEx

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 in the company, valued at approximately $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 company insiders.

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.