Lmcg Investments LLC Sells 2,447 Shares of FedEx Co. (NYSE:FDX)

Lmcg Investments LLC decreased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,785 shares of the shipping service provider's stock after selling 2,447 shares during the quarter. Lmcg Investments LLC's holdings in FedEx were worth $7,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Benin Management CORP increased its stake in shares of FedEx by 0.3% during the first quarter. Benin Management CORP now owns 16,198 shares of the shipping service provider's stock worth $3,949,000 after purchasing an additional 50 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $1,146,000. Hennion & Walsh Asset Management Inc. boosted its stake in FedEx by 19.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,992 shares of the shipping service provider's stock worth $1,217,000 after buying an additional 809 shares during the period. Spring Capital Management LLC purchased a new position in FedEx during the first quarter worth about $284,000. Finally, RFG Advisory LLC lifted its stake in FedEx by 26.8% during the 1st quarter. RFG Advisory LLC now owns 1,312 shares of the shipping service provider's stock worth $320,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity at FedEx

In other FedEx 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 transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is currently owned by insiders.

FedEx Stock Down 1.1%

Shares of NYSE FDX traded down $2.35 during trading on Thursday, hitting $216.54. The stock had a trading volume of 1,961,104 shares, compared to its average volume of 1,836,197. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $51.88 billion, a PE ratio of 13.80, a PEG ratio of 1.11 and a beta of 1.35. The firm has a fifty day moving average of $216.82 and a two-hundred day moving average of $250.96.

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 for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.86 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

Analysts Set New Price Targets

FDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company 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 report on Tuesday, April 22nd. Truist Financial cut their price target on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Oppenheimer reissued a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Finally, TD Cowen dropped their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $295.33.

About FedEx

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.