Raiffeisen Bank International AG purchased a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,097 shares of the shipping service provider's stock, valued at approximately $3,113,000.
A number of other large investors also recently bought and sold shares of FDX. bLong Financial LLC purchased a new position in FedEx in the fourth quarter worth about $391,000. Lodestone Wealth Management LLC purchased a new position in FedEx in the fourth quarter worth about $461,000. GFS Advisors LLC purchased a new position in FedEx in the fourth quarter worth about $26,855,000. Assenagon Asset Management S.A. raised its holdings in FedEx by 137.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider's stock worth $64,133,000 after buying an additional 132,036 shares during the last quarter. Finally, Gries Financial LLC raised its holdings in FedEx by 16.6% in the fourth quarter. Gries Financial LLC now owns 8,780 shares of the shipping service provider's stock worth $2,470,000 after buying an additional 1,252 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FDX has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Truist Financial decreased their target price on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, Barclays decreased their target price on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $297.63.
Read Our Latest Analysis on FedEx
Insiders Place Their Bets
In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. Company insiders own 8.87% of the company's stock.
FedEx Stock Performance
Shares of NYSE FDX opened at $231.60 on Friday. The firm has a 50 day moving average of $223.23 and a 200 day moving average of $256.98. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $55.49 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.86 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx 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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