Rafferty Asset Management LLC Boosts Stock Position in FedEx Co. (NYSE:FDX)

Rafferty Asset Management LLC lifted its stake in FedEx Co. (NYSE:FDX - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,531 shares of the shipping service provider's stock after purchasing an additional 2,507 shares during the period. Rafferty Asset Management LLC's holdings in FedEx were worth $6,620,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Raiffeisen Bank International AG bought a new position in shares of FedEx in the 4th quarter worth $3,113,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in FedEx during the fourth quarter valued at approximately $546,000. Point72 Italy S.r.l. bought a new stake in FedEx in the fourth quarter valued at approximately $9,481,000. Quantinno Capital Management LP raised its holdings in FedEx by 31.8% in the fourth quarter. Quantinno Capital Management LP now owns 19,198 shares of the shipping service provider's stock worth $5,401,000 after purchasing an additional 4,631 shares during the period. Finally, Paradoxiom Capital L.P. acquired a new stake in FedEx during the 4th quarter worth approximately $9,569,000. Institutional investors own 84.47% of the company's stock.

FedEx Trading Down 1.9%

FDX traded down $4.19 during trading on Wednesday, reaching $216.95. 1,683,504 shares of the stock traded hands, compared to its average volume of 1,820,062. The stock's 50-day moving average is $222.21 and its 200 day moving average is $255.83. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a market capitalization of $51.98 billion, a PE ratio of 13.83, a P/E/G ratio of 1.11 and a beta of 1.36. 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 (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 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 company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the business posted $3.86 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Truist Financial reduced their target price on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.