Millennium Capital Advisors LLC Takes Position in FedEx Corporation $FDX

Key Points

• Millennium Capital Advisors LLC disclosed a new fourth-quarter stake in FedEx, buying 3,299 shares valued at about $953,000.
• FedEx reported stronger-than-expected quarterly results, with EPS of $5.25 versus the $4.12 estimate and revenue of $24 billion, up 8.3% year over year.
• Analysts remain mostly positive on the stock: the consensus rating is Moderate Buy, with an average price target of $398.04, even as some executives recently sold shares.

Millennium Capital Advisors LLC purchased a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,299 shares of the shipping service provider's stock, valued at approximately $953,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Grey Fox Wealth Advisors LLC purchased a new position in FedEx during the 3rd quarter worth $27,000. Wealth Watch Advisors INC purchased a new position in FedEx during the 3rd quarter worth $28,000. Ameriflex Group Inc. grew its stake in FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock worth $29,000 after buying an additional 63 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in FedEx during the 4th quarter worth $29,000. Finally, ORG Partners LLC grew its stake in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after buying an additional 35 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $375.99 on Friday. The stock has a 50-day moving average of $369.04 and a two-hundred day moving average of $328.17. FedEx Corporation has a one year low of $214.35 and a one year high of $404.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a market cap of $89.71 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. During the same quarter in the previous year, the firm posted $4.51 EPS. The firm's revenue was up 8.3% compared to the same quarter last year. As a group, research analysts predict that FedEx Corporation will post 19.72 EPS for the current year.

Insider Transactions at FedEx

In other news, EVP Kawal Preet sold 4,900 shares of the business's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company's stock, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the business's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FDX shares. Citigroup boosted their target price on FedEx from $327.00 to $401.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Jefferies Financial Group boosted their target price on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Truist Financial boosted their target price on FedEx from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. HSBC upgraded FedEx from a "reduce" rating to a "hold" rating and set a $360.00 target price on the stock in a research note on Friday, March 20th. Finally, The Goldman Sachs Group boosted their target price on FedEx from $364.00 to $369.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $398.04.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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