FedEx Co. (NYSE:FDX) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in FedEx Co. (NYSE:FDX - Free Report) by 71.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,683 shares of the shipping service provider's stock after selling 6,717 shares during the period. Lazard Asset Management LLC's holdings in FedEx were worth $754,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Ritholtz Wealth Management purchased a new stake in shares of FedEx during the fourth quarter worth approximately $249,000. Merit Financial Group LLC increased its position in shares of FedEx by 13.8% in the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider's stock valued at $796,000 after purchasing an additional 344 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in shares of FedEx by 0.6% during the 4th quarter. Ameritas Advisory Services LLC now owns 7,152 shares of the shipping service provider's stock worth $2,012,000 after purchasing an additional 45 shares during the last quarter. Grove Bank & Trust grew its stake in shares of FedEx by 13.0% during the fourth quarter. Grove Bank & Trust now owns 434 shares of the shipping service provider's stock worth $122,000 after purchasing an additional 50 shares in the last quarter. Finally, City Holding Co. purchased a new position in FedEx in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

Shares of FedEx stock traded down $1.96 during trading on Monday, reaching $216.85. The company's stock had a trading volume of 1,480,515 shares, compared to its average volume of 1,822,176. The business has a 50 day moving average price of $219.98 and a 200-day moving average price of $253.94. The company has a market capitalization of $51.96 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. 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 issued its 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). The company had revenue of $22.16 billion for 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%. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.86 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FDX. Raymond James lowered their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. 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 report on Tuesday, May 13th. Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Thursday. Finally, Barclays cut their price target 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $297.00.

FedEx 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.