FedEx Co. (NYSE:FDX) Stock Holdings Decreased by Wexford Capital LP

Wexford Capital LP lowered its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,205 shares of the shipping service provider's stock after selling 16,160 shares during the period. Wexford Capital LP's holdings in FedEx were worth $620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Regal Investment Advisors LLC raised its position in FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after acquiring an additional 38 shares during the last quarter. Cetera Trust Company N.A raised its position in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock valued at $2,230,000 after buying an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its position in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after buying an additional 40 shares during the last quarter. Aviso Financial Inc. raised its position in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after buying an additional 40 shares during the last quarter. Finally, Garner Asset Management Corp raised its position in shares of FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. BMO Capital Markets dropped their price target on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday. Truist Financial dropped their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. UBS Group dropped their price target on shares of FedEx from $350.00 to $331.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $297.00.

FedEx Stock Performance

Shares of NYSE:FDX traded up $1.83 on Thursday, reaching $218.64. 1,512,712 shares of the company's stock were exchanged, compared to its average volume of 1,819,049. 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 Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The business's 50-day moving average is $221.71 and its two-hundred day moving average is $255.57. The firm has a market capitalization of $52.39 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results 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 company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of FedEx 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 transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.87% of the company's stock.

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.