Spring Capital Management LLC Acquires Shares of 1,166 FedEx Co. (NYSE:FDX)

Spring Capital Management LLC purchased a new position in FedEx Co. (NYSE:FDX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,166 shares of the shipping service provider's stock, valued at approximately $284,000.

A number of other large investors have also made changes to their positions in FDX. Norges Bank acquired a new position in shares of FedEx during the 4th quarter valued at about $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the fourth quarter worth approximately $234,028,000. Dodge & Cox grew its holdings in FedEx by 5.6% in the fourth 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 period. GAMMA Investing LLC increased its position in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after purchasing an additional 542,605 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in FedEx during the fourth quarter worth approximately $145,733,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FDX. BMO Capital Markets lowered their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Truist Financial reduced their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Oppenheimer restated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Finally, Citigroup dropped their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $295.33.

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 shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.87% of the company's stock.

FedEx Stock Performance

FDX stock traded down $2.35 on Thursday, reaching $216.54. The company's stock had a trading volume of 1,960,213 shares, compared to its average volume of 1,832,584. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a market capitalization of $51.88 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The firm has a fifty day moving average of $216.82 and a two-hundred day moving average of $250.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the company earned $3.86 EPS. The business's quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx 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.