ProShare Advisors LLC Sells 33,774 Shares of FedEx Corporation $FDX

Key Points

• ProShare Advisors cut its FedEx position by 45.7% in the fourth quarter, selling 33,774 shares and leaving it with 40,098 shares valued at about $11.6 million.
• FedEx reported strong quarterly results, with EPS of $5.25 beating estimates and revenue of $24 billion topping expectations; revenue also rose 8.3% from a year earlier.
• Despite some insider selling, Wall Street remains broadly positive on FedEx, with a consensus Moderate Buy rating and an average target price of $399.65.

ProShare Advisors LLC lowered its position in FedEx Corporation (NYSE:FDX - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,098 shares of the shipping service provider's stock after selling 33,774 shares during the quarter. ProShare Advisors LLC's holdings in FedEx were worth $11,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its stake in FedEx by 57.8% in the fourth quarter. TD Private Client Wealth LLC now owns 4,568 shares of the shipping service provider's stock worth $1,320,000 after purchasing an additional 1,673 shares in the last quarter. Tucker Asset Management LLC bought a new position in FedEx in the fourth quarter worth approximately $29,000. Mission Wealth Management LP grew its stake in FedEx by 7.1% in the fourth quarter. Mission Wealth Management LP now owns 4,202 shares of the shipping service provider's stock worth $1,214,000 after purchasing an additional 278 shares in the last quarter. RiverFront Investment Group LLC purchased a new stake in FedEx during the fourth quarter worth $274,000. Finally, North Dakota State Investment Board purchased a new stake in FedEx during the fourth quarter worth $2,122,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX opened at $389.17 on Friday. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The stock has a fifty day moving average price of $370.39 and a 200-day moving average price of $332.38. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The firm has a market cap of $92.86 billion, a PE ratio of 20.71, a P/E/G ratio of 1.47 and a beta of 1.29.

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

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction on 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 sale, the executive vice president owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research lowered FedEx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 18th. The Goldman Sachs Group upped their target price on FedEx from $364.00 to $369.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Citigroup assumed coverage on FedEx in a report on Thursday. They set a "buy" rating and a $443.00 target price for the company. Jefferies Financial Group upped their target price on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded FedEx from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $399.65.

FedEx Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.