Siemens Fonds Invest GmbH trimmed its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 73.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,252 shares of the shipping service provider's stock after selling 6,152 shares during the period. Siemens Fonds Invest GmbH's holdings in FedEx were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in FedEx during the fourth quarter valued at $807,352,000. Raymond James Financial Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at about $234,028,000. Dodge & Cox increased its position in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of FedEx during the 4th quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC increased its position in shares of FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after purchasing an additional 329,170 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have commented on FDX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 target price for the company. BMO Capital Markets reduced their price objective on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Finally, Cfra Research upgraded FedEx to a "hold" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $296.17.
Check Out Our Latest Stock Report on FedEx
FedEx Price Performance
FDX traded down $2.35 during trading on Friday, hitting $217.91. 2,339,089 shares of the company traded hands, compared to its average volume of 1,829,398. The company has a market cap of $52.21 billion, a PE ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 1.36. The stock's 50-day simple moving average is $218.29 and its two-hundred day simple moving average is $252.21. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.86 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
Insider Buying and Selling at FedEx
In other FedEx 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.87% of the stock is currently owned by company insiders.
FedEx Profile
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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.
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