Allspring Global Investments Holdings LLC Has $3.23 Million Holdings in FedEx Co. (NYSE:FDX)

Allspring Global Investments Holdings LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 61.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,782 shares of the shipping service provider’s stock after selling 18,597 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in FedEx were worth $3,232,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in shares of 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 buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC raised its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the 4th quarter valued at approximately $28,000. City Holding Co. bought a new position in shares of FedEx in the 4th quarter valued at approximately $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx in the 4th quarter valued at approximately $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. BMO Capital Markets lifted their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus dropped their price target on 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, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insiders Place Their Bets

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $268.49 on Friday. The stock’s fifty day simple moving average is $271.34 and its 200 day simple moving average is $278.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market cap of $64.67 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.11 and a beta of 1.18. FedEx Co. has a one year low of $238.21 and a one year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 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%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 EPS. On average, analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

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.