North Star Asset Management Inc. Decreases Holdings in FedEx Co. (NYSE:FDX)

North Star Asset Management Inc. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 22.9% in the fourth quarter, Holdings Channel reports. The firm owned 37,173 shares of the shipping service provider’s stock after selling 11,023 shares during the period. North Star Asset Management Inc.’s holdings in FedEx were worth $10,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Transce3nd LLC purchased a new position in FedEx in the 4th quarter valued at about $26,000. Kentucky Trust Co purchased a new position in FedEx in the 4th quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx in the 4th quarter valued at about $28,000. Activest Wealth Management purchased a new position in FedEx in the 4th quarter valued at about $29,000. Finally, R Squared Ltd purchased a new position in FedEx in the 4th quarter valued at about $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

FDX opened at $216.85 on Friday. The firm has a market cap of $51.96 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company’s 50-day moving average price is $220.59 and its 200 day moving average price is $254.80. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 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 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 business posted $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

Analysts Set New Price Targets

FDX has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company decreased 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. Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. UBS Group decreased 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. Finally, Cfra Research raised FedEx to a “hold” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $297.00.

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.