Focus Financial Network Inc. Sells 107 Shares of FedEx Co. (NYSE:FDX)

Focus Financial Network Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,082 shares of the shipping service provider’s stock after selling 107 shares during the period. Focus Financial Network Inc.’s holdings in FedEx were worth $511,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the fourth quarter worth $28,000. Runnymede Capital Advisors Inc. bought a new stake in shares of FedEx during the fourth quarter worth $32,000. Accredited Wealth Management LLC acquired a new position in FedEx during the fourth quarter worth $35,000. Finally, Optiver Holding B.V. acquired a new position in FedEx during the fourth quarter worth $39,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $223.95 on Friday. 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 Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a market capitalization of $53.66 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.11 and a beta of 1.35. The business’s 50-day moving average is $216.82 and its two-hundred day moving average is $247.37.

FedEx (NYSE:FDX) last announced its 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the business posted $3.86 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.59%. The ex-dividend date is Monday, June 23rd. FedEx’s dividend payout ratio is presently 36.39%.

Analyst Ratings Changes

A number of brokerages have commented on FDX. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. Barclays cut their target price on shares of FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, June 3rd. Truist Financial lowered their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Bank of America lowered their price target on shares of FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group decreased their target price on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.54.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business’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 owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.87% of the company’s stock.

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.