Vident Advisory LLC Has $2.94 Million Stake in FedEx Co. (NYSE:FDX)

Vident Advisory LLC grew its holdings in FedEx Co. (NYSE:FDX - Free Report) by 120.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,430 shares of the shipping service provider's stock after purchasing an additional 5,690 shares during the quarter. Vident Advisory LLC's holdings in FedEx were worth $2,935,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. bLong Financial LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $391,000. Lodestone Wealth Management LLC acquired a new stake in FedEx during the fourth quarter worth about $461,000. GFS Advisors LLC acquired a new stake in FedEx during the fourth quarter worth about $26,855,000. Gries Financial LLC grew its position in FedEx by 16.6% during the fourth 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 in the last quarter. Finally, KBC Group NV grew its position in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock worth $96,043,000 after buying an additional 226,608 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FDX shares. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and decreased their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Truist Financial decreased their target price on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. TD Cowen decreased their target price on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Piper Sandler downgraded FedEx to a "neutral" rating in a research report on Monday, February 3rd. Finally, UBS Group cut their price target on shares of FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

FedEx Trading Up 2.1%

FedEx stock traded up $4.52 during mid-day trading on Tuesday, hitting $221.13. 404,419 shares of the company's stock were exchanged, compared to its average volume of 1,869,755. The firm has a market capitalization of $52.98 billion, a P/E ratio of 14.09, a PEG ratio of 1.11 and a beta of 1.36. FedEx Co. has a fifty-two week low of $194.29 and a fifty-two week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company's 50 day simple moving average is $219.98 and its 200-day simple moving average is $253.94.

FedEx (NYSE:FDX - Get Free Report) last issued 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 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.86 EPS. On average, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

About FedEx

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.