Raiffeisen Bank International AG Invests $3.11 Million in FedEx Co. (NYSE:FDX)

Raiffeisen Bank International AG bought a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,097 shares of the shipping service provider’s stock, valued at approximately $3,113,000.

Other hedge funds have also recently modified their holdings of the company. bLong Financial LLC purchased a new position in shares of FedEx in the fourth quarter worth $391,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx in the fourth quarter worth $461,000. GFS Advisors LLC purchased a new position in shares of FedEx in the fourth quarter worth $26,855,000. Assenagon Asset Management S.A. lifted its holdings in shares of 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 in the last quarter. Finally, Gries Financial LLC lifted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.1%

NYSE FDX opened at $231.60 on Friday. The company’s 50-day moving average price is $223.23 and its 200-day moving average price 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. The stock has a market cap of $55.49 billion, a PE ratio of 14.76, a PEG 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) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during 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 for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.86 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FDX. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Stephens decreased their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. UBS Group decreased their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Two research 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 company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $297.63.

Insider Transactions 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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 8.87% of the company’s stock.

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.