1,940 Shares in FedEx Co. (NYSE:FDX) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,940 shares of the shipping service provider’s stock, valued at approximately $546,000.

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

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. Truist Financial lowered their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. UBS Group cut their price target on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Barclays reduced their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, BMO Capital Markets lowered their target price on FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $297.63.

FedEx Trading Down 0.1%

FedEx stock opened at $231.60 on Friday. The firm has a market cap of $55.49 billion, a PE ratio of 14.76, a P/E/G 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. The stock’s 50 day simple moving average is $223.23 and its two-hundred day simple moving average is $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.

FedEx (NYSE:FDX) 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the business’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 transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is currently owned by company insiders.

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.