FedEx Co. (NYSE:FDX) Stock Holdings Trimmed by ABLE Financial Group LLC

ABLE Financial Group LLC cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 60.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 995 shares of the shipping service provider's stock after selling 1,499 shares during the period. ABLE Financial Group LLC's holdings in FedEx were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Secure Asset Management LLC boosted its position in FedEx by 9.7% in the 4th quarter. Secure Asset Management LLC now owns 913 shares of the shipping service provider's stock valued at $257,000 after buying an additional 81 shares during the period. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in FedEx by 30.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 2,284 shares of the shipping service provider's stock valued at $642,000 after acquiring an additional 534 shares in the last quarter. RFG Advisory LLC grew its position in shares of FedEx by 30.2% during the fourth quarter. RFG Advisory LLC now owns 1,035 shares of the shipping service provider's stock worth $291,000 after acquiring an additional 240 shares during the last quarter. Finally, CX Institutional increased its holdings in shares of FedEx by 6.7% in the 4th quarter. CX Institutional now owns 2,722 shares of the shipping service provider's stock valued at $766,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Trading Down 1.2%

Shares of FedEx stock traded down $2.57 during trading hours on Wednesday, hitting $217.19. The company's stock had a trading volume of 1,245,290 shares, compared to its average volume of 1,822,636. The business has a fifty day moving average of $219.20 and a 200 day moving average of $253.45. The company has a market capitalization of $52.04 billion, a PE ratio of 13.84, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. 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 released its quarterly 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). The firm had revenue of $22.16 billion for 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%. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of 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 report on Friday, March 21st. Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research note on Friday, March 21st. UBS Group lowered 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. Barclays reduced their price target on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $296.17.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

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.