ProShare Advisors LLC Has $9.21 Million Stock Holdings in FedEx Co. (NYSE:FDX)

ProShare Advisors LLC decreased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,719 shares of the shipping service provider's stock after selling 1,105 shares during the period. ProShare Advisors LLC's holdings in FedEx were worth $9,205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC increased its holdings in shares of FedEx by 13.8% in the fourth quarter. Park Avenue Securities LLC now owns 5,741 shares of the shipping service provider's stock valued at $1,615,000 after purchasing an additional 698 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of FedEx by 8.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,183 shares of the shipping service provider's stock valued at $1,177,000 after buying an additional 334 shares during the period. Ritholtz Wealth Management bought a new stake in shares of FedEx during the fourth quarter worth $249,000. Wedge Capital Management L L P NC lifted its stake in shares of FedEx by 11.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 34,836 shares of the shipping service provider's stock valued at $9,800,000 after acquiring an additional 3,697 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in FedEx by 13.8% in the fourth quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider's stock valued at $796,000 after acquiring an additional 344 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated 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 $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.87% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on FDX. Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target 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. Stephens reiterated an "overweight" rating and set a $300.00 target price on shares of FedEx in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Finally, UBS Group decreased their price objective on FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $297.00.

FedEx Stock Down 1.9%

Shares of FDX stock traded down $4.19 on Wednesday, hitting $216.95. 1,683,504 shares of the stock were exchanged, compared to its average volume of 1,816,897. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $51.98 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The business has a 50-day moving average of $222.21 and a 200 day moving average of $255.83.

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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the company earned $3.86 EPS. The company's revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

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.