Parallel Advisors LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Parallel Advisors LLC trimmed its position in FedEx Co. (NYSE:FDX) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,084 shares of the shipping service provider’s stock after selling 963 shares during the period. Parallel Advisors LLC’s holdings in FedEx were worth $3,400,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. bLong Financial LLC bought a new position in FedEx in the 4th quarter valued at $391,000. Virtu Financial LLC bought a new stake in FedEx in the third quarter worth $3,405,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx in the fourth quarter valued at about $461,000. Wedmont Private Capital increased its position in shares of FedEx by 4.1% in the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC purchased a new position in shares of FedEx in the fourth quarter valued at about $26,855,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Stock Up 1.3 %

Shares of FDX stock opened at $245.46 on Tuesday. The company has a market capitalization of $59.12 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a one year low of $239.50 and a one year high of $313.84. The company’s fifty day moving average price is $262.47 and its 200-day moving average price is $273.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $3.99 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.25%. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FDX. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens cut their price objective on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus lowered their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $318.04.

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.