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

Parr Mcknight Wealth Management Group LLC acquired a new position in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,763 shares of the shipping service provider's stock, valued at approximately $496,000.

Several other large investors also recently bought and sold shares of the business. Vise Technologies Inc. increased its holdings in FedEx by 17.7% in the 4th quarter. Vise Technologies Inc. now owns 5,840 shares of the shipping service provider's stock worth $1,643,000 after buying an additional 879 shares in the last quarter. Highview Capital Management LLC DE boosted its position in FedEx by 3.0% in the fourth quarter. Highview Capital Management LLC DE now owns 4,501 shares of the shipping service provider's stock worth $1,266,000 after purchasing an additional 129 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in FedEx by 14.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,448 shares of the shipping service provider's stock worth $12,505,000 after purchasing an additional 5,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in FedEx by 0.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,297,568 shares of the shipping service provider's stock worth $365,045,000 after purchasing an additional 11,549 shares during the last quarter. Finally, Waverly Advisors LLC boosted its position in FedEx by 34.0% in the fourth quarter. Waverly Advisors LLC now owns 5,032 shares of the shipping service provider's stock worth $1,416,000 after purchasing an additional 1,278 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the topic of several research reports. Raymond James dropped their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Oppenheimer reissued a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Stephens reissued an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and dropped their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Piper Sandler cut FedEx to a "neutral" rating in a research report on Monday, February 3rd. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $296.17.

FedEx Price Performance

NYSE:FDX traded down $2.57 during trading hours on Wednesday, reaching $217.19. The stock had a trading volume of 1,244,787 shares, compared to its average volume of 1,820,256. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a 50 day moving average price of $219.46 and a two-hundred day moving average price of $253.70. The stock has a market capitalization of $52.04 billion, a PE ratio of 13.84, a PEG ratio of 1.11 and a beta of 1.36.

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

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.87% of the company's stock.

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.