Value Partners Investments Inc. Decreases Position in FedEx Co. (NYSE:FDX)

Value Partners Investments Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 91.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,910 shares of the shipping service provider's stock after selling 132,703 shares during the quarter. FedEx comprises approximately 1.9% of Value Partners Investments Inc.'s holdings, making the stock its 19th largest position. Value Partners Investments Inc.'s holdings in FedEx were worth $3,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Transce3nd LLC bought a new position in shares of FedEx during the fourth quarter worth $26,000. Kentucky Trust Co purchased a new stake in FedEx in the 4th quarter worth $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the 4th quarter valued at about $28,000. Activest Wealth Management purchased a new position in shares of FedEx during the fourth quarter valued at about $29,000. Finally, R Squared Ltd bought a new stake in shares of FedEx in the fourth quarter worth about $31,000. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. Bank of America dropped their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Piper Sandler cut FedEx to a "neutral" rating in a report on Monday, February 3rd. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and cut their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $296.17.

FedEx Trading Up 1.3%

Shares of FDX traded up $2.88 during trading hours on Thursday, reaching $220.03. 1,460,710 shares of the company traded hands, compared to its average volume of 1,821,198. The firm has a market cap of $52.72 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The stock's fifty day moving average price is $219.20 and its 200 day moving average price is $253.45. 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 released its quarterly earnings data 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 analysts' expectations of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.86 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the company'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 completion of the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is owned by company insiders.

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.