Mufg Securities Americas Inc. acquired a new stake in FedEx Co. (NYSE:FDX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,319 shares of the shipping service provider's stock, valued at approximately $934,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in shares of FedEx in the 4th quarter worth $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the 4th quarter worth $28,000. City Holding Co. acquired a new stake in shares of FedEx in the 4th quarter worth $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter worth $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
Insider Transactions at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated 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 approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.87% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. BMO Capital Markets cut their target price on FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Stephens cut their target price on FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average price target of $297.63.
Check Out Our Latest Research Report on FedEx
FedEx Trading Down 0.8%
FedEx stock traded down $1.77 during midday trading on Friday, reaching $229.34. 2,270,050 shares of the stock traded hands, compared to its average volume of 1,811,108. The company has a 50-day simple moving average of $222.96 and a two-hundred day simple moving average of $256.54. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The firm has a market cap of $54.95 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS 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 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 earnings per share. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
About FedEx
(
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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