Nuveen Asset Management LLC Has $237.32 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Nuveen Asset Management LLC grew its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 843,555 shares of the shipping service provider's stock after purchasing an additional 121,915 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.35% of FedEx worth $237,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FDX. Transce3nd LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $26,000. City Holding Co. purchased a new position in shares of FedEx during the 4th quarter worth $28,000. Kentucky Trust Co purchased a new stake in FedEx in the 4th quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the fourth quarter valued at $28,000. Finally, Activest Wealth Management purchased a new position in FedEx in the fourth quarter valued at approximately $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James lowered their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company lowered their price target on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and decreased their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Citigroup cut their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen cut their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $297.00.

FedEx Price Performance

Shares of NYSE:FDX traded down $3.41 on Monday, hitting $226.10. The company had a trading volume of 1,801,315 shares, compared to its average volume of 1,811,244. The business has a 50 day moving average of $222.96 and a 200 day moving average of $256.41. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market cap of $54.17 billion, a PE ratio of 14.41, a PEG ratio of 1.11 and a beta of 1.36. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued 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). The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $3.86 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.