Wellington Management Group LLP Trims Position in FedEx Co. (NYSE:FDX)

Wellington Management Group LLP trimmed its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,142 shares of the shipping service provider's stock after selling 8,920 shares during the quarter. Wellington Management Group LLP's holdings in FedEx were worth $3,416,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. Transce3nd LLC purchased a new position in shares of FedEx in the 4th quarter valued at about $26,000. Kentucky Trust Co purchased a new position in FedEx in the fourth quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $28,000. Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in FedEx in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Trading Up 1.5%

Shares of NYSE:FDX traded up $3.23 during midday trading on Friday, hitting $219.96. 1,684,149 shares of the stock were exchanged, compared to its average volume of 1,835,599. The business's 50-day moving average price is $216.27 and its 200 day moving average price is $250.41. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 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 firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business posted $3.86 EPS. The company's revenue was up 1.9% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business's 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 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. The trade was a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup lowered their target price on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Loop Capital cut shares of FedEx from a "hold" rating to a "sell" rating and dropped their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Cfra Research upgraded FedEx to a "hold" rating in a report on Thursday, March 20th. Finally, Bank of America cut their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $295.33.

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.