Man Group plc Purchases 5,315 Shares of FedEx Co. (NYSE:FDX)

Man Group plc lifted its stake in FedEx Co. (NYSE:FDX - Free Report) by 274.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,253 shares of the shipping service provider's stock after purchasing an additional 5,315 shares during the period. Man Group plc's holdings in FedEx were worth $2,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in FedEx by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the period. Dodge & Cox lifted its position in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. Geode Capital Management LLC lifted its position in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after acquiring an additional 109,006 shares in the last quarter. Franklin Resources Inc. lifted its position in FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. lifted its position in FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after buying an additional 127,044 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insiders Place Their Bets

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 owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.87% of the company's stock.

FedEx Stock Performance

Shares of NYSE:FDX traded up $2.63 on Thursday, reaching $219.78. 247,560 shares of the company's stock were exchanged, compared to its average volume of 1,816,425. The company has a fifty day moving average of $219.20 and a 200-day moving average of $253.45. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the company earned $3.86 EPS. The business's revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial cut their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Citigroup dropped their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Loop Capital cut shares of FedEx from a "hold" rating to a "sell" rating and dropped their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.