North Star Asset Management Inc. Sells 11,023 Shares of FedEx Co. (NYSE:FDX)

North Star Asset Management Inc. cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,173 shares of the shipping service provider's stock after selling 11,023 shares during the quarter. North Star Asset Management Inc.'s holdings in FedEx were worth $10,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Transce3nd LLC bought a new position in FedEx during the fourth quarter worth about $26,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in FedEx during the fourth quarter worth about $28,000. Activest Wealth Management bought a new position in FedEx during the fourth quarter worth about $29,000. Finally, R Squared Ltd bought a new position in FedEx during the fourth quarter worth about $31,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price on the stock. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and reduced their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. TD Cowen cut their target price on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company cut their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

Insider Activity at FedEx

In other 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 value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by company insiders.

FedEx Price Performance

FedEx stock traded up $3.11 during midday trading on Tuesday, hitting $219.72. 1,916,261 shares of the company's stock were exchanged, compared to its average volume of 1,822,557. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The stock has a 50-day moving average price of $219.98 and a two-hundred day moving average price of $253.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $52.64 billion, a P/E ratio of 14.00, a PEG ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 earnings per share. FedEx's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

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.