FedEx Co. (NYSE:FDX) Stock Holdings Decreased by Level Four Advisory Services LLC

Level Four Advisory Services LLC lessened its position in FedEx Co. (NYSE:FDX) by 6.4% in the 4th quarter, Holdings Channel reports. The fund owned 4,092 shares of the shipping service provider’s stock after selling 282 shares during the period. Level Four Advisory Services LLC’s holdings in FedEx were worth $1,151,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. TD Cowen reduced their price objective on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Two 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx Price Performance

Shares of NYSE:FDX opened at $241.75 on Friday. The company has a market cap of $57.92 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50 day moving average price of $256.59 and a 200 day moving average price of $270.98. 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 twelve month low of $217.22 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the company posted $3.86 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

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 dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.28%. FedEx’s payout ratio is 34.63%.

Insider Activity

In related news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,711 shares of company stock valued at $3,312,693. Insiders own 8.87% of the company’s stock.

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.