Morse Asset Management Inc cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 89.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175 shares of the shipping service provider's stock after selling 1,525 shares during the quarter. Morse Asset Management Inc's holdings in FedEx were worth $49,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Transce3nd LLC bought a new position in shares of FedEx in the 4th quarter valued at about $26,000. Peoples Financial Services CORP. bought a new position in FedEx during the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter worth about $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in FedEx during the fourth quarter worth about $28,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on FDX. Piper Sandler cut FedEx to a "neutral" rating in a report on Monday, February 3rd. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and reduced their price target for the stock from $283.00 to $221.00 in a report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. BMO Capital Markets reduced their price target on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Finally, Wells Fargo & Company cut their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average price target of $297.63.
Get Our Latest Stock Report on FedEx
Insider Buying and Selling at FedEx
In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.87% of the company's stock.
FedEx Price Performance
FDX traded down $1.77 during trading on Friday, hitting $229.34. 2,270,050 shares of the stock traded hands, compared to its average volume of 1,809,543. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a market cap of $54.95 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.11 and a beta of 1.36. 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 has a 50 day moving average price of $222.96 and a 200 day moving average price of $256.66.
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 the consensus estimate 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 for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 earnings per share. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
FedEx Company Profile
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Free Report)
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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