Vivaldi Capital Management LP Grows Position in FedEx Co. (NYSE:FDX)

Vivaldi Capital Management LP boosted its position in FedEx Co. (NYSE:FDX - Free Report) by 183.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,521 shares of the shipping service provider's stock after acquiring an additional 1,633 shares during the period. Vivaldi Capital Management LP's holdings in FedEx were worth $710,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FDX. St. Clair Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth about $818,000. Two Sigma Investments LP boosted its holdings in FedEx by 98.1% in the 4th quarter. Two Sigma Investments LP now owns 10,700 shares of the shipping service provider's stock worth $3,010,000 after buying an additional 5,300 shares during the period. Texas Bank & Trust Co purchased a new position in FedEx in the 4th quarter valued at approximately $622,000. Tidal Investments LLC raised its holdings in FedEx by 4.9% during the 4th quarter. Tidal Investments LLC now owns 19,795 shares of the shipping service provider's stock valued at $5,569,000 after acquiring an additional 925 shares during the period. Finally, Tang Capital Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth $942,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of NYSE FDX traded up $1.83 during midday trading on Thursday, hitting $218.64. 1,512,712 shares of the stock traded hands, compared to its average volume of 1,819,049. 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 one year low of $194.30 and a one year high of $313.84. The firm has a market capitalization of $52.39 billion, a P/E ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.36. The firm has a 50-day moving average of $221.71 and a two-hundred day moving average of $255.57.

FedEx (NYSE:FDX - Get Free Report) last posted 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 business had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same period in the previous year, the business posted $3.86 EPS. The business's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction 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 directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was 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. Insiders own 8.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FDX shares. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research note on Tuesday. Cfra Research raised FedEx to a "hold" rating in a research note on Thursday, March 20th. Truist Financial cut their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets lowered 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $297.00.

About FedEx

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.