Wealth Enhancement Advisory Services LLC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Wealth Enhancement Advisory Services LLC lifted its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 69.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,477 shares of the shipping service provider's stock after purchasing an additional 31,376 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in FedEx were worth $21,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. bLong Financial LLC bought a new position in shares of FedEx in the 4th quarter worth about $391,000. Lodestone Wealth Management LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $461,000. GFS Advisors LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $26,855,000. U.S. Capital Wealth Advisors LLC boosted its position in shares of FedEx by 28.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 7,598 shares of the shipping service provider's stock worth $2,138,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in FedEx by 57.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider's stock valued at $2,965,000 after buying an additional 3,867 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is owned by company insiders.

FedEx Stock Performance

NYSE:FDX traded up $1.92 during mid-day trading on Tuesday, hitting $219.81. 2,288,577 shares of the company traded hands, compared to its average volume of 1,829,665. The stock's fifty day moving average price is $217.76 and its 200-day moving average price is $251.40. The firm has a market cap of $52.67 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a one year low of $194.30 and a one year 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.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly 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). The business had revenue of $22.16 billion during 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 EPS. Research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

FDX has been the topic of several analyst reports. Piper Sandler cut FedEx to a "neutral" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. TD Cowen cut their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company decreased their target price on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $295.33.

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.