Mackenzie Financial Corp Sells 9,086 Shares of FedEx Co. (NYSE:FDX)

Mackenzie Financial Corp lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 205,080 shares of the shipping service provider's stock after selling 9,086 shares during the period. Mackenzie Financial Corp owned 0.09% of FedEx worth $57,695,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Transce3nd LLC acquired a new stake in FedEx during the 4th quarter worth $26,000. Kentucky Trust Co bought a new position in shares of FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in FedEx in the 4th quarter valued at approximately $28,000. Activest Wealth Management bought a new stake in FedEx in the 4th quarter valued at approximately $29,000. Finally, R Squared Ltd acquired a new position in FedEx during the 4th quarter worth approximately $31,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE FDX traded up $2.88 on Thursday, reaching $220.03. The stock had a trading volume of 1,460,710 shares, compared to its average volume of 1,821,198. 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 cap of $52.72 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The firm has a fifty day moving average of $219.20 and a two-hundred day moving average of $253.45. 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 released its quarterly 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). 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 analyst estimates of $21.96 billion. During the same quarter last year, the company posted $3.86 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. BMO Capital Markets decreased their price objective on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Raymond James lowered their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Citigroup reduced their price target on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $296.17.

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.