FedEx Co. (NYSE:FDX) Stock Holdings Lifted by 1832 Asset Management L.P.

1832 Asset Management L.P. raised its position in shares of FedEx Co. (NYSE:FDXFree Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the shipping service provider’s stock after purchasing an additional 125 shares during the period. 1832 Asset Management L.P.’s holdings in FedEx were worth $2,580,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FDX. Financial Management Professionals Inc. grew its position in FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in FedEx in the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners bought a new position in FedEx during the fourth quarter valued at about $31,000. Finally, Planned Solutions Inc. bought a new position in FedEx during the fourth quarter valued at about $32,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on FDX. BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Wells Fargo & Company initiated coverage on shares of FedEx in a research note on Friday. They issued an “equal weight” rating and a $275.00 price objective for the company. Robert W. Baird raised their target price on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Evercore ISI boosted their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $301.92.

Get Our Latest Stock Analysis on FedEx

Insider Activity at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $247.73 on Friday. FedEx Co. has a 52-week low of $221.20 and a 52-week high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a fifty day moving average price of $261.36 and a two-hundred day moving average price of $256.58. The firm has a market capitalization of $60.96 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.90 and a beta of 1.16.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $3.41 EPS. As a group, analysts anticipate that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx announced that its Board of Directors has approved a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

FedEx Company Profile

(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.

See Also

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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