FedEx Co. (NYSE:FDX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of FedEx Co. (NYSE:FDX) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,633 shares of the shipping service provider’s stock after selling 2,346 shares during the quarter. Thrivent Financial for Lutherans’ holdings in FedEx were worth $4,128,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. United Bank purchased a new stake in shares of FedEx in the third quarter valued at approximately $615,000. Quest Partners LLC purchased a new stake in shares of FedEx during the 3rd quarter worth $123,000. Meridian Wealth Management LLC boosted its position in shares of FedEx by 7.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 803 shares of the shipping service provider’s stock worth $220,000 after purchasing an additional 55 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of FedEx by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 60,345 shares of the shipping service provider’s stock valued at $16,538,000 after purchasing an additional 16,931 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in shares of FedEx by 9.4% in the third quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock valued at $825,000 after purchasing an additional 259 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.5 %

Shares of FDX opened at $241.19 on Wednesday. FedEx Co. has a twelve month low of $217.22 and a twelve month high of $313.84. The firm has a market capitalization of $58.09 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $258.58 and its 200 day simple moving average is $271.75.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, 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 will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 34.63%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FDX shares. Barclays dropped their target price on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Piper Sandler downgraded FedEx to a “neutral” rating in a research report on Monday, February 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Raymond James decreased their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $300.60.

Insider Activity 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 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 of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

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.