Western Wealth Management LLC Sells 1,685 Shares of FedEx Co. (NYSE:FDX)

Western Wealth Management LLC lowered its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 48.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,817 shares of the shipping service provider's stock after selling 1,685 shares during the period. Western Wealth Management LLC's holdings in FedEx were worth $511,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FDX. Transce3nd LLC bought a new stake in FedEx during the fourth quarter valued at approximately $26,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the fourth quarter valued at approximately $28,000. Activest Wealth Management bought a new stake in FedEx during the fourth quarter valued at approximately $29,000. Finally, R Squared Ltd bought a new stake in FedEx during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FDX. BMO Capital Markets dropped their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Barclays decreased their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded FedEx to a "hold" rating in a research report on Thursday, March 20th. Wells Fargo & Company dropped their price target on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus target price of $297.00.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 23,347 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Insiders own 8.87% of the company's stock.

FedEx Stock Performance

Shares of FDX stock traded up $3.11 on Tuesday, reaching $219.72. The stock had a trading volume of 1,916,261 shares, compared to its average volume of 1,822,557. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a 50 day simple moving average of $219.98 and a 200 day simple moving average of $253.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $52.64 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same period in the previous year, the company earned $3.86 EPS. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

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.