TCW Group Inc. Reduces Stock Position in FedEx Co. (NYSE:FDX)

TCW Group Inc. decreased its position in FedEx Co. (NYSE:FDX) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,151 shares of the shipping service provider’s stock after selling 7,159 shares during the quarter. TCW Group Inc.’s holdings in FedEx were worth $7,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC raised 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 valued at $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Peoples Financial Services CORP. purchased a new stake in FedEx in the 4th quarter worth approximately $28,000. City Holding Co. acquired a new position in FedEx in the 4th quarter valued at $28,000. Finally, Kentucky Trust Co purchased a new position in shares of FedEx during the 4th quarter worth $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets lifted their price objective on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $321.87.

FedEx Trading Down 5.4 %

Shares of NYSE FDX opened at $253.97 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 stock’s 50 day moving average price is $270.75 and its two-hundred day moving average price is $278.13. FedEx Co. has a 52-week low of $239.07 and a 52-week high of $313.84. The stock has a market capitalization of $61.17 billion, a P/E ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18.

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

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

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.