SevenBridge Financial Group LLC Sells 265 Shares of FedEx Co. (NYSE:FDX)

SevenBridge Financial Group LLC decreased its position in shares of FedEx Co. (NYSE:FDX) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,299 shares of the shipping service provider’s stock after selling 265 shares during the quarter. SevenBridge Financial Group LLC’s holdings in FedEx were worth $2,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC increased 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. Peoples Financial Services CORP. acquired a new position in shares of FedEx during the fourth quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter worth about $28,000. Kentucky Trust Co bought a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Activest Wealth Management acquired a new position in FedEx during the 4th quarter valued at about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, TD Cowen dropped their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Two equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $302.71.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 12,711 shares of company stock valued at $3,312,693. 8.87% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE FDX opened at $241.86 on Wednesday. The stock has a fifty day moving average of $255.30 and a 200-day moving average of $270.28. The stock has a market cap of $57.95 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a fifty-two week low of $217.22 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.86 earnings per share. Equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. FedEx’s dividend payout ratio (DPR) is currently 34.63%.

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.