Parallel Advisors LLC Sells 1,472 Shares of FedEx Co. (NYSE:FDX)

Parallel Advisors LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,612 shares of the shipping service provider's stock after selling 1,472 shares during the period. Parallel Advisors LLC's holdings in FedEx were worth $2,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. Transce3nd LLC purchased a new position in shares of FedEx in the fourth quarter valued at $26,000. Kentucky Trust Co acquired a new position in shares of FedEx in the fourth quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx during the fourth quarter valued at approximately $28,000. Activest Wealth Management purchased a new position in shares of FedEx during the 4th quarter valued at approximately $29,000. Finally, R Squared Ltd purchased a new position in shares of FedEx in the fourth quarter worth about $31,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's 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 $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.87% of the stock is owned by insiders.

FedEx Price Performance

FedEx stock traded down $0.53 during midday trading on Wednesday, reaching $219.25. 437,459 shares of the company were exchanged, compared to its average volume of 1,825,980. The firm's 50-day simple moving average is $217.28 and its 200-day simple moving average is $251.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the company earned $3.86 EPS. FedEx's revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on FDX. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and reduced their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Finally, Truist Financial reduced their target price on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.