Public Employees Retirement System of Ohio Sells 5,382 Shares of FedEx Co. (NYSE:FDX)

Public Employees Retirement System of Ohio cut its stake in FedEx Co. (NYSE:FDX - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,922 shares of the shipping service provider's stock after selling 5,382 shares during the period. Public Employees Retirement System of Ohio's holdings in FedEx were worth $30,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Transce3nd LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $26,000. Kentucky Trust Co bought a new stake in FedEx in the 4th quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx in the 4th quarter worth approximately $28,000. Activest Wealth Management bought a new stake in FedEx in the 4th quarter worth approximately $29,000. Finally, R Squared Ltd bought a new stake in FedEx in the 4th quarter worth approximately $31,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business'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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

FDX has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wall Street Zen raised shares of FedEx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays cut their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Piper Sandler downgraded shares of FedEx to a "neutral" rating in a research report on Monday, February 3rd. Finally, TD Cowen cut their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $297.00.

FedEx Price Performance

Shares of FedEx stock traded up $3.11 during trading hours on Tuesday, reaching $219.72. The company's stock had a trading volume of 1,916,261 shares, compared to its average volume of 1,822,557. The firm has a 50 day moving average price of $219.98 and a 200-day moving average price of $253.94. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market cap of $52.64 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS 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 the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 earnings per share. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current year.

About FedEx

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.