Mmbg Investment Advisors CO. Trims Stake in FedEx Corporation $FDX

Key Points

• Mmbg Investment Advisors cut its FedEx stake by 23.8% in the fourth quarter, selling 2,565 shares and ending with 8,212 shares valued at about $2.39 million.
• FedEx reported strong quarterly results, with EPS of $5.25 versus $4.12 expected and revenue of $24 billion, up 8.3% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $399.62, while insiders recently sold shares as well.

Mmbg Investment Advisors CO. reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 23.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,212 shares of the shipping service provider's stock after selling 2,565 shares during the period. Mmbg Investment Advisors CO.'s holdings in FedEx were worth $2,386,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ulland Investment Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $29,000. Tucker Asset Management LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $29,000. ORG Partners LLC lifted its holdings in shares of FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock valued at $30,000 after purchasing an additional 35 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in shares of FedEx in the 4th quarter valued at about $31,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of FedEx in the 3rd quarter valued at about $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several research reports. Raymond James Financial boosted their target price on FedEx from $305.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Morgan Stanley upped their price objective on FedEx from $220.00 to $230.00 and gave the company an "underweight" rating in a research note on Friday, March 20th. BMO Capital Markets upped their price objective on FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research note on Friday, March 20th. Bank of America lifted their target price on FedEx from $431.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Finally, 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. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $399.62.

FedEx Stock Performance

Shares of FDX stock opened at $394.18 on Tuesday. The company has a market cap of $94.05 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29. The stock has a 50 day simple moving average of $371.88 and a 200-day simple moving average of $334.37. FedEx Corporation has a 12-month low of $214.35 and a 12-month high of $404.03. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 EPS. On average, equities analysts forecast that FedEx Corporation will post 19.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president directly owned 10,953 shares of the company's stock, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company's stock.

FedEx Profile

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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