Perennial Advisors LLC Takes Position in FedEx Co. (NYSE:FDX)

Perennial Advisors LLC purchased a new position in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,056 shares of the shipping service provider's stock, valued at approximately $7,331,000. FedEx makes up approximately 1.6% of Perennial Advisors LLC's portfolio, making the stock its 24th biggest holding.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after buying an additional 56,236 shares in the last quarter. Dodge & Cox grew its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after buying an additional 109,006 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after buying an additional 127,044 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Performance

NYSE:FDX traded down $2.57 during mid-day trading on Wednesday, hitting $217.19. 1,245,290 shares of the stock were exchanged, compared to its average volume of 1,822,636. The stock has a market capitalization of $52.04 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The firm's 50-day simple moving average is $219.46 and its 200 day simple moving average is $253.70. 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 fifty-two week low of $194.30 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FDX shares. Loop Capital cut 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 report on Friday, March 21st. Oppenheimer reissued a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target 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. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $296.17.

FedEx Company 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.