Parr Mcknight Wealth Management Group LLC Invests $496,000 in FedEx Co. (NYSE:FDX)

Parr Mcknight Wealth Management Group LLC acquired a new position in FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,763 shares of the shipping service provider's stock, valued at approximately $496,000.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in FedEx during the 4th quarter worth $807,352,000. Raymond James Financial Inc. acquired a new position in FedEx during the 4th quarter worth $234,028,000. Dodge & Cox raised its position in shares of FedEx by 5.6% during the fourth 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. Capital Research Global Investors acquired a new position in shares of FedEx during the fourth quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC raised its position in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after buying an additional 329,170 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction 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 $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Performance

NYSE FDX traded up $1.38 during trading on Thursday, reaching $218.53. The company's stock had a trading volume of 393,542 shares, compared to its average volume of 1,817,030. 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 capitalization of $52.36 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a 50 day moving average price of $219.20 and a 200 day moving average price of $253.45.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $3.86 EPS. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FDX. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and dropped their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Raymond James dropped their price target on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Cfra Research raised shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Bank of America dropped their price target on shares of FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $296.17.

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.