Shell Asset Management Co. Cuts Stock Position in FedEx Co. (NYSE:FDX)

Shell Asset Management Co. cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,154 shares of the shipping service provider's stock after selling 1,516 shares during the period. Shell Asset Management Co.'s holdings in FedEx were worth $2,857,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FDX. Vanguard Group Inc. grew its position in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Dodge & Cox grew its position in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Geode Capital Management LLC grew its position in FedEx by 2.3% in the 4th 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 during the last quarter. Franklin Resources Inc. grew its position in FedEx by 8.1% in the 4th 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. grew its position in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after buying an additional 127,044 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other 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 transaction of $1,499,050.25. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on FDX. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and reduced their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Truist Financial reduced their target price on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group reduced their target price on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a report on Friday, March 21st. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and reduced their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Finally, TD Cowen reduced their target price on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

FedEx Trading Down 2.2%

FDX traded down $5.04 during midday trading on Tuesday, hitting $221.08. The company's stock had a trading volume of 2,437,478 shares, compared to its average volume of 1,817,427. 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 firm has a market cap of $52.97 billion, a P/E ratio of 14.09, a PEG ratio of 1.11 and a beta of 1.36. The firm has a 50-day moving average price of $222.61 and a two-hundred day moving average price of $256.08. 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 posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.86 EPS. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

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.