2,141 Shares in FedEx Co. (NYSE:FDX) Bought by GGM Financials LLC

GGM Financials LLC bought a new position in FedEx Co. (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,141 shares of the shipping service provider's stock, valued at approximately $522,000.

Several other hedge funds have also bought and sold shares of the stock. Transce3nd LLC purchased a new position in shares of FedEx during the fourth quarter worth approximately $26,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Activest Wealth Management acquired a new stake in shares of FedEx during the fourth quarter worth $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Truist Financial dropped their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Raymond James dropped their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Barclays dropped their target price on FedEx from $350.00 to $330.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, UBS Group lowered their price target on FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $295.33.

Insider Activity at FedEx

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

FedEx Stock Up 1.5%

FDX traded up $3.23 during mid-day trading on Friday, reaching $219.96. 1,684,149 shares of the stock were exchanged, compared to its average volume of 1,838,258. 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 capitalization of $52.70 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a 50 day moving average price of $215.83 and a two-hundred day moving average price of $249.91. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

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