Royal Bank of Canada Buys 176,656 Shares of FedEx Co. (NYSE:FDX)

Royal Bank of Canada boosted its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,484,122 shares of the shipping service provider's stock after purchasing an additional 176,656 shares during the period. Royal Bank of Canada owned about 0.62% of FedEx worth $417,528,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in shares of FedEx in the 4th quarter worth approximately $26,000. City Holding Co. acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in FedEx in the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management acquired a new stake in FedEx in the fourth quarter valued at approximately $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

FDX traded down $5.04 during trading on Tuesday, hitting $221.08. The stock had a trading volume of 2,437,478 shares, compared to its average volume of 1,817,427. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a 50 day simple moving average of $222.61 and a 200-day simple moving average of $256.08. The firm has a market cap of $52.97 billion, a PE ratio of 14.09, a P/E/G 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company's revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $3.86 EPS. Analysts expect that FedEx Co. will post 19.14 EPS for the current year.

Insider Buying and Selling at FedEx

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

Analysts Set New Price Targets

A number of research firms have issued reports on FDX. Bank of America decreased their price target on shares of FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Raymond James dropped their price target on shares of 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 restated an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.