3,349 Shares in FedEx Co. (NYSE:FDX) Purchased by Tang Capital Management LLC

Tang Capital Management LLC acquired a new position in shares of FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,349 shares of the shipping service provider's stock, valued at approximately $942,000.

A number of other large investors have also recently made changes to their positions in the stock. bLong Financial LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $391,000. Lodestone Wealth Management LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $461,000. GFS Advisors LLC acquired a new position in FedEx in the 4th quarter worth approximately $26,855,000. Gries Financial LLC raised its position in FedEx by 16.6% during the 4th quarter. Gries Financial LLC now owns 8,780 shares of the shipping service provider's stock worth $2,470,000 after buying an additional 1,252 shares during the last quarter. Finally, KBC Group NV lifted its stake in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock valued at $96,043,000 after acquiring an additional 226,608 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FDX. 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 research note on Tuesday, April 22nd. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Truist Financial decreased their price objective on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and decreased their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Finally, Stephens reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

FedEx Price Performance

FDX traded up $1.83 on Thursday, hitting $218.64. 1,512,712 shares of the company's stock were exchanged, compared to its average volume of 1,818,838. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.11 and a beta of 1.36. The firm has a 50-day moving average price of $221.71 and a 200-day moving average price of $255.57. 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 posted its quarterly earnings results 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 business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.86 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Company 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.