Merit Financial Group LLC Boosts Stake in FedEx Co. (NYSE:FDX)

Merit Financial Group LLC raised its position in FedEx Co. (NYSE:FDX - Free Report) by 54.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,374 shares of the shipping service provider's stock after purchasing an additional 1,546 shares during the quarter. Merit Financial Group LLC's holdings in FedEx were worth $1,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC raised its position in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after purchasing an additional 38 shares during the period. Aviso Financial Inc. grew its stake in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after acquiring an additional 40 shares in the last quarter. Garner Asset Management Corp grew its stake in FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after acquiring an additional 41 shares in the last quarter. WealthPlan Investment Management LLC grew its stake in FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock worth $473,000 after acquiring an additional 42 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in FedEx by 27.4% in the 4th quarter. Hemington Wealth Management now owns 209 shares of the shipping service provider's stock worth $58,000 after acquiring an additional 45 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 1.5%

NYSE:FDX opened at $219.96 on Friday. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The firm has a 50 day moving average of $215.83 and a 200 day moving average of $249.65. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 15.59% and a net margin of 4.45%. The company 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 firm posted $3.86 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on FDX shares. Truist Financial dropped their target price on shares of FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company dropped their target price on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Finally, Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and dropped their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $295.33.

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.

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