Rafferty Asset Management LLC boosted its stake in FedEx Co. (NYSE:FDX - Free Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,531 shares of the shipping service provider's stock after acquiring an additional 2,507 shares during the period. Rafferty Asset Management LLC's holdings in FedEx were worth $6,620,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC raised its stake in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after buying an additional 40 shares during the last quarter. Griffin Asset Management Inc. grew its position in shares of FedEx by 0.4% in the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock worth $2,916,000 after acquiring an additional 40 shares in the last quarter. Aviso Financial Inc. grew its position in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after acquiring an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp increased its holdings in shares of FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after acquiring an additional 41 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.
FedEx Stock Down 1.4%
NYSE FDX traded down $3.14 during trading on Friday, hitting $215.67. 425,054 shares of the company traded hands, compared to its average volume of 1,874,034. FedEx Co. has a 12 month low of $194.29 and a 12 month high of $313.84. The business has a fifty day simple moving average of $221.17 and a 200 day simple moving average of $255.20. The company has a market capitalization of $51.67 billion, a P/E ratio of 13.75, a PEG 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 posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm's revenue for the quarter 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. As a group, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on FDX shares. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research note on Tuesday. Wells Fargo & Company reduced 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. Finally, Stifel Nicolaus dropped their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $297.00.
Check Out Our Latest Stock Report on FedEx
Insider Activity 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 completion of the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is currently owned by company insiders.
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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