USS Investment Management Ltd Sells 6,387 Shares of FedEx Co. (NYSE:FDX)

USS Investment Management Ltd reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 10.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 52,594 shares of the shipping service provider’s stock after selling 6,387 shares during the period. USS Investment Management Ltd’s holdings in FedEx were worth $14,805,000 as of its most recent SEC filing.

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

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business’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 completion of the sale, 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 document filed with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. Barclays lowered their price target on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Stifel Nicolaus dropped their price target 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. Finally, Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $297.00.

FedEx Price Performance

Shares of NYSE FDX opened at $221.08 on Wednesday. The firm has a market cap of $52.97 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The business’s 50 day moving average is $222.21 and its 200-day moving average is $255.83. 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 Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). 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 period in the prior year, the company earned $3.86 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Company 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.