Federated Hermes Inc. Sells 42,016 Shares of FedEx Co. (NYSE:FDX)

Federated Hermes Inc. reduced its position in FedEx Co. (NYSE:FDX) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,584 shares of the shipping service provider’s stock after selling 42,016 shares during the quarter. Federated Hermes Inc. owned about 0.12% of FedEx worth $76,292,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FDX. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FedEx by 11.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares in the last quarter. Trust Point Inc. bought a new position in shares of FedEx in the 4th quarter valued at $282,000. Planned Solutions Inc. bought a new position in shares of FedEx in the 4th quarter valued at $32,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after purchasing an additional 13,642 shares during the last quarter. Finally, Skba Capital Management LLC increased its stake in shares of FedEx by 0.3% in the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock valued at $10,417,000 after purchasing an additional 100 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FDX shares. Jefferies Financial Group lifted their price target on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. UBS Group lifted their price target on FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Stifel Nicolaus cut their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Melius raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, The Goldman Sachs Group raised their price objective on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Stock Up 0.1 %

Shares of NYSE:FDX opened at $263.37 on Friday. The company has a market capitalization of $64.81 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.24 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The business’s 50-day moving average is $258.74 and its 200-day moving average is $254.17. FedEx Co. has a 1 year low of $213.80 and a 1 year high of $291.27.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same period in the previous year, the company posted $3.41 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 17.67 earnings per share for the current year.

FedEx announced that its Board of Directors has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, March 8th. FedEx’s payout ratio is 29.07%.

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.