Intrust Bank NA Reduces Position in FedEx Co. (NYSE:FDX)

Intrust Bank NA reduced its stake in FedEx Co. (NYSE:FDX) by 12.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,375 shares of the shipping service provider’s stock after selling 187 shares during the quarter. Intrust Bank NA’s holdings in FedEx were worth $387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. 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 purchasing an additional 52 shares during the period. Peoples Financial Services CORP. bought a new stake in shares of FedEx during the 4th quarter valued at $28,000. City Holding Co. purchased a new position in shares of FedEx during the 4th quarter valued at $28,000. Kentucky Trust Co bought a new position in FedEx in the 4th quarter worth $28,000. Finally, Activest Wealth Management purchased a new stake in FedEx in the 4th quarter worth $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler downgraded FedEx to a “neutral” rating in a research report on Monday, February 3rd. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Citigroup cut their price objective on shares of FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Raymond James lowered their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $302.71.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,711 shares of company stock valued at $3,312,693 over the last quarter. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

FDX opened at $241.75 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $256.59 and a 200 day moving average of $270.89. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The stock has a market cap of $57.92 billion, a P/E ratio of 15.41, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

FedEx Company 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.