Point72 Italy S.r.l. Buys New Shares in FedEx Co. (NYSE:FDX)

Point72 Italy S.r.l. purchased a new position in shares of FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 33,700 shares of the shipping service provider's stock, valued at approximately $9,481,000. FedEx makes up 5.2% of Point72 Italy S.r.l.'s holdings, making the stock its 6th largest holding.

Several other large investors also recently modified their holdings of FDX. Vanguard Group Inc. raised its position in shares of FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after purchasing an additional 56,236 shares during the period. Dodge & Cox raised its holdings in FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after buying an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

FDX stock traded down $1.77 during mid-day trading on Friday, reaching $229.34. 2,270,050 shares of the company traded hands, compared to its average volume of 1,811,108. The company has a fifty day moving average price of $222.96 and a 200-day moving average price of $256.54. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a market capitalization of $54.95 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 1.36. 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 - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.86 earnings per share. As a group, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FDX shares. Cfra Research upgraded FedEx to a "hold" rating in a research note on Thursday, March 20th. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a report on Friday, March 21st. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and dropped their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. UBS Group reduced their target price on shares of FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $297.63.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm'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 sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.87% of the stock is owned by corporate insiders.

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.