Perkins Coie Trust Co Buys 181 Shares of FedEx Co. (NYSE:FDX)

Perkins Coie Trust Co raised its stake in shares of FedEx Co. (NYSE:FDX) by 190.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 276 shares of the shipping service provider’s stock after purchasing an additional 181 shares during the period. Perkins Coie Trust Co’s holdings in FedEx were worth $67,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FDX. Norges Bank bought a new stake in FedEx during the fourth quarter valued at about $807,352,000. Raymond James Financial Inc. bought a new position in shares of FedEx in the fourth quarter worth about $234,028,000. Dodge & Cox boosted its stake in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the period. GAMMA Investing LLC boosted its stake in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock worth $133,003,000 after acquiring an additional 542,605 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of FedEx in the fourth quarter worth about $145,733,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.5%

Shares of NYSE:FDX opened at $219.96 on Friday. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The stock has a market cap of $52.70 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The business’s 50 day moving average is $215.83 and its 200 day moving average is $249.91. 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 data 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). The firm 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 firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.86 EPS. Sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America dropped their price objective on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Barclays dropped their price target on FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Finally, Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and dropped their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $295.33.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was 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. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.87% of the company’s stock.

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.