Great Valley Advisor Group Inc. raised its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,631 shares of the shipping service provider's stock after purchasing an additional 1,306 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in FedEx were worth $7,491,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Ameriflex Group Inc. acquired a new position in FedEx during the 4th quarter valued at approximately $43,000. Challenger Wealth Management acquired a new position in FedEx during the 4th quarter valued at approximately $281,000. Ascent Group LLC increased its stake in FedEx by 7.2% during the 4th quarter. Ascent Group LLC now owns 6,419 shares of the shipping service provider's stock valued at $1,806,000 after purchasing an additional 431 shares in the last quarter. Putney Financial Group LLC acquired a new stake in shares of FedEx in the fourth quarter worth $90,000. Finally, Perennial Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter worth $7,331,000. Institutional investors and hedge funds own 84.47% of the company's stock.
Insider Transactions at FedEx
In related news, COO John Alan Smith sold 6,155 shares of the firm's 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.87% of the company's stock.
Wall Street Analysts Forecast Growth
FDX has been the topic of a number of research reports. Raymond James cut their price objective on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays cut their price objective on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, Bank of America cut their price objective on shares of FedEx from $272.00 to $270.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average price target of $296.17.
Check Out Our Latest Research Report on FDX
FedEx Price Performance
Shares of NYSE:FDX traded down $2.57 during midday trading 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's 50 day simple moving average is $219.20 and its 200 day simple moving average is $253.45. 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 company has a market cap of $52.04 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last posted 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). The business had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 earnings per share. On average, analysts forecast that FedEx Co. will post 19.14 EPS for the current year.
FedEx Profile
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Free Report)
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.
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