Miracle Mile Advisors LLC Sells 1,350 Shares of FedEx Co. (NYSE:FDX)

Miracle Mile Advisors LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,951 shares of the shipping service provider’s stock after selling 1,350 shares during the period. Miracle Mile Advisors LLC’s holdings in FedEx were worth $6,570,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FDX. Regal Investment Advisors LLC raised its holdings in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 38 shares in the last quarter. Aviso Financial Inc. raised its holdings in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after purchasing an additional 40 shares in the last quarter. Garner Asset Management Corp raised its holdings in FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. WealthPlan Investment Management LLC raised its holdings in FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider’s stock worth $473,000 after purchasing an additional 42 shares in the last quarter. Finally, Hemington Wealth Management raised its holdings in FedEx by 27.4% in the 4th quarter. Hemington Wealth Management now owns 209 shares of the shipping service provider’s stock worth $58,000 after purchasing an additional 45 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of NYSE FDX opened at $219.96 on Friday. The firm’s 50-day moving average price is $215.83 and its 200-day moving average price is $249.65. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $52.70 billion, a PE ratio of 14.02, a PEG ratio of 1.11 and a beta of 1.35. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 EPS. As a group, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on FDX shares. Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Truist Financial reduced their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their target price for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Finally, Cfra Research raised shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.33.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 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.