GAMMA Investing LLC Increases Stake in FedEx Co. (NYSE:FDX)

GAMMA Investing LLC grew its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 18,202.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 545,586 shares of the shipping service provider's stock after buying an additional 542,605 shares during the period. GAMMA Investing LLC owned approximately 0.23% of FedEx worth $133,003,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FDX. Regal Investment Advisors LLC grew its stake in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after buying an additional 38 shares during the period. Aviso Financial Inc. boosted its stake in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after purchasing an additional 40 shares during the last quarter. Garner Asset Management Corp increased its holdings in FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. WealthPlan Investment Management LLC lifted its stake in FedEx by 2.6% during the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock valued at $473,000 after acquiring an additional 42 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in shares of FedEx by 27.4% in the 4th quarter. Hemington Wealth Management now owns 209 shares of the shipping service provider's stock worth $58,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial decreased their price objective on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. BMO Capital Markets dropped their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Wells Fargo & Company reduced their price objective on 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, Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and reduced their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $295.33.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

FDX stock traded down $0.60 during midday trading on Thursday, reaching $218.29. The stock had a trading volume of 499,043 shares, compared to its average volume of 1,827,038. The firm has a fifty day simple moving average of $216.82 and a two-hundred day simple moving average of $250.96. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. 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 $52.30 billion, a PE ratio of 13.91, a P/E/G ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate 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.