Toronto Dominion Bank Boosts Holdings in FedEx Co. (NYSE:FDX)

Toronto Dominion Bank increased its stake in shares of FedEx Co. (NYSE:FDX) by 56.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,302 shares of the shipping service provider’s stock after buying an additional 47,491 shares during the period. Toronto Dominion Bank owned about 0.05% of FedEx worth $36,939,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in FedEx during the fourth quarter worth about $26,000. City Holding Co. purchased a new stake in FedEx during the fourth quarter worth about $28,000. Kentucky Trust Co purchased a new stake in FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the fourth quarter worth about $28,000. Finally, Activest Wealth Management purchased a new stake in FedEx during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FDX shares. Raymond James cut their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Barclays cut their target price on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. BMO Capital Markets cut their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Finally, Bank of America cut their target price on shares of FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $297.63.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx 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 transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by company insiders.

FedEx Trading Down 0.8%

Shares of FedEx stock opened at $229.34 on Monday. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a market cap of $54.95 billion, a PE ratio of 14.62, a PEG ratio of 1.11 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50 day simple moving average of $222.96 and a two-hundred day simple moving average of $256.41.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) 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 company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

About FedEx

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.