Skylands Capital LLC Sells 650 Shares of FedEx Co. (NYSE:FDX)

Skylands Capital LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 8,475 shares of the shipping service provider’s stock after selling 650 shares during the quarter. Skylands Capital LLC’s holdings in FedEx were worth $2,384,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FDX. Fortitude Family Office LLC grew its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 52 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Peoples Financial Services CORP. purchased a new stake in FedEx during the fourth quarter valued at $28,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter valued at $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx during the fourth quarter valued at $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on FDX. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Barclays upped their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Citigroup increased their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on 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 transaction, the director now 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 corporate insiders.

FedEx Stock Performance

FDX opened at $253.97 on Monday. FedEx Co. has a 12-month low of $239.07 and a 12-month high of $313.84. 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 firm has a market capitalization of $61.17 billion, a PE ratio of 16.19, a P/E/G ratio of 1.11 and a beta of 1.18. The firm has a 50 day moving average of $270.75 and a two-hundred day moving average of $278.13.

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, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $3.99 EPS. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

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.