Eagle Rock Investment Company LLC Sells 7,860 Shares of FedEx Co. (NYSE:FDX)

Eagle Rock Investment Company LLC cut its stake in FedEx Co. (NYSE:FDX - Free Report) by 70.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,373 shares of the shipping service provider's stock after selling 7,860 shares during the quarter. Eagle Rock Investment Company LLC's holdings in FedEx were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in FedEx during the fourth quarter valued at approximately $807,352,000. Raymond James Financial Inc. purchased a new stake in FedEx during the fourth quarter valued at $234,028,000. Dodge & Cox increased its position in 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 acquiring an additional 734,268 shares during the last quarter. GAMMA Investing LLC increased its position in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after acquiring an additional 542,605 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in shares of FedEx in the fourth quarter worth about $145,733,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.5%

NYSE:FDX opened at $219.96 on Friday. The stock has a fifty day moving average price of $215.83 and a two-hundred day moving average price of $249.91. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.11 and a beta of 1.35. 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 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's revenue for the quarter 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, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Barclays reduced their price target on shares of FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a research report on Tuesday. UBS Group dropped their price objective on shares of FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, TD Cowen dropped their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $295.33.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is owned by corporate insiders.

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.

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