Woodline Partners LP Has $36.89 Million Stock Position in FedEx Co. (NYSE:FDX)

Woodline Partners LP raised its position in FedEx Co. (NYSE:FDX - Free Report) by 117.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,112 shares of the shipping service provider's stock after purchasing an additional 70,947 shares during the quarter. Woodline Partners LP owned about 0.05% of FedEx worth $36,886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FDX. Transce3nd LLC bought a new stake in shares of FedEx during the 4th quarter worth about $26,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at $28,000. Kentucky Trust Co bought a new stake in FedEx in the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new stake in FedEx during the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FDX shares. Wall Street Zen raised FedEx from a "hold" rating to a "buy" rating in a research note on Thursday. BMO Capital Markets decreased their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $297.00.

FedEx Stock Performance

NYSE FDX traded down $1.96 during midday trading on Monday, hitting $216.85. The company had a trading volume of 1,480,515 shares, compared to its average volume of 1,822,176. The firm has a fifty day simple moving average of $220.59 and a two-hundred day simple moving average of $254.42. FedEx Co. has a fifty-two week low of $194.30 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 stock has a market cap of $51.96 billion, a price-to-earnings ratio of 13.82, a P/E/G 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 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm 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 firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.86 earnings per share. Equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by company insiders.

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.