Wright Investors Service Inc. Makes New Investment in FedEx Co. (NYSE:FDX)

Wright Investors Service Inc. acquired a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,437 shares of the shipping service provider's stock, valued at approximately $838,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Regal Investment Advisors LLC boosted its stake in shares of FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares during the period. Aviso Financial Inc. boosted its stake in shares of FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after purchasing an additional 40 shares during the period. Garner Asset Management Corp boosted its stake in shares of FedEx by 0.7% during 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 purchasing an additional 41 shares during the period. WealthPlan Investment Management LLC boosted its stake in shares of FedEx by 2.6% during the fourth quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock valued at $473,000 after purchasing an additional 42 shares during the period. Finally, Hemington Wealth Management lifted its stake in FedEx by 27.4% in the fourth quarter. Hemington Wealth Management now owns 209 shares of the shipping service provider's stock worth $58,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of NYSE FDX traded down $1.06 during midday trading on Thursday, hitting $217.83. The stock had a trading volume of 911,062 shares, compared to its average volume of 1,828,642. The company has a market capitalization of $52.19 billion, a PE ratio of 13.88, a P/E/G ratio of 1.11 and a beta of 1.35. The stock has a 50 day simple moving average of $216.82 and a 200-day simple moving average of $250.96. FedEx Co. has a 1 year low of $194.30 and a 1 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 released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.86 EPS. On average, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FDX shares. Bank of America lowered their price objective on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Raymond James decreased their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, Loop Capital cut FedEx from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $295.33.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the business'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 transaction, the chief operating officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.87% of the company's stock.

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.