Public Employees Retirement System of Ohio trimmed its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.
Other large investors also recently modified their holdings of the company. Transce3nd LLC acquired a new position in shares of FedEx during the fourth quarter worth approximately $26,000. Kentucky Trust Co acquired a new position in shares of FedEx during the fourth quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx in the fourth quarter valued at approximately $28,000. Activest Wealth Management acquired a new position in FedEx in the fourth quarter valued at approximately $29,000. Finally, R Squared Ltd acquired a new position in FedEx in the fourth quarter valued at approximately $31,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.87% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on FDX shares. Wells Fargo & Company cut their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $296.17.
Check Out Our Latest Analysis on FDX
FedEx Stock Performance
Shares of FDX traded up $1.38 during trading hours on Thursday, hitting $218.53. The stock had a trading volume of 393,542 shares, compared to its average volume of 1,817,030. 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 firm has a 50-day moving average price of $219.20 and a 200 day moving average price of $253.45. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The firm has a market capitalization of $52.36 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.36.
FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the company earned $3.86 earnings per share. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.
FedEx Profile
(
Free Report)
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.
See Also
Before you consider FedEx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FedEx wasn't on the list.
While FedEx currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
