Worldquant Millennium Advisors LLC Buys 318,448 Shares of FedEx Co. (NYSE:FDX)

Worldquant Millennium Advisors LLC increased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 276.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 433,789 shares of the shipping service provider's stock after acquiring an additional 318,448 shares during the period. FedEx comprises approximately 0.8% of Worldquant Millennium Advisors LLC's investment portfolio, making the stock its 20th largest holding. Worldquant Millennium Advisors LLC owned 0.18% of FedEx worth $122,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Transce3nd LLC bought a new stake in FedEx during the fourth quarter worth about $26,000. City Holding Co. bought a new stake in FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the fourth quarter worth approximately $28,000. Finally, Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company's stock.

FedEx Trading Down 1.5%

Shares of NYSE:FDX opened at $226.10 on Tuesday. The company has a market capitalization of $54.17 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business's 50 day simple moving average is $222.61 and its 200 day simple moving average is $256.08.

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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company earned $3.86 EPS. The company's quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial lowered their price target on FedEx from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and lowered their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Raymond James lowered their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Stephens lowered their price target on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $297.00.

FedEx 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.

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