Silvercrest Asset Management Group LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Silvercrest Asset Management Group LLC purchased a new stake in FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,067 shares of the shipping service provider's stock, valued at approximately $8,177,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Transce3nd LLC bought a new position in FedEx in the 4th quarter worth approximately $26,000. City Holding Co. bought a new position in FedEx during the fourth quarter worth $28,000. Kentucky Trust Co acquired a new position in FedEx during the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx in the 4th quarter valued at $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx in the 4th quarter worth $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. TD Cowen reduced 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. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Truist Financial lowered their price objective on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research note 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 given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business'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 value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $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 is available at the SEC website. 8.87% of the stock is owned by company insiders.

FedEx Price Performance

FDX stock traded up $1.83 during midday trading on Thursday, reaching $218.64. 1,512,712 shares of the company's stock traded hands, compared to its average volume of 1,818,838. The company has a 50-day simple moving average of $221.71 and a two-hundred day simple moving average of $255.57. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a market cap of $52.39 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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 net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the firm earned $3.86 earnings per share. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx 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.