Allied Investment Advisors LLC Acquires 2,641 Shares of FedEx Co. (NYSE:FDX)

Allied Investment Advisors LLC grew its stake in FedEx Co. (NYSE:FDX - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,445 shares of the shipping service provider's stock after acquiring an additional 2,641 shares during the period. FedEx accounts for approximately 2.0% of Allied Investment Advisors LLC's holdings, making the stock its 25th largest position. Allied Investment Advisors LLC's holdings in FedEx were worth $10,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Transce3nd LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $26,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the fourth quarter worth $28,000. Activest Wealth Management bought a new stake in FedEx during the fourth quarter worth $29,000. Finally, R Squared Ltd acquired a new stake in FedEx in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FDX shares. Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday. Oppenheimer restated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Piper Sandler lowered FedEx to a "neutral" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $295.33.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company's 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.87% of the company's stock.

FedEx Price Performance

FedEx stock traded up $1.92 during trading hours on Tuesday, reaching $219.81. 2,351,814 shares of the stock were exchanged, compared to its average volume of 1,829,668. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a market cap of $52.67 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The stock has a 50 day moving average of $217.76 and a two-hundred day moving average of $251.40.

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 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 analyst estimates of $21.96 billion. During the same period in the prior year, the business posted $3.86 EPS. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal 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.