29,067 Shares in FedEx Co. (NYSE:FDX) Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC purchased a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,067 shares of the shipping service provider’s stock, valued at approximately $8,177,000.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. Norges Bank acquired a new stake in FedEx in the 4th quarter valued at $807,352,000. Raymond James Financial Inc. acquired a new position in shares of FedEx during the fourth quarter valued at about $234,028,000. Dodge & Cox increased its position in shares of FedEx by 5.6% during 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 in the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx in the 4th quarter worth about $145,733,000. Finally, ACR Alpine Capital Research LLC lifted its position in FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after acquiring an additional 329,170 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.8%

FDX opened at $229.34 on Monday. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a market cap of $54.95 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $222.96 and a 200 day moving average of $256.41.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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). The company 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%. FedEx’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.86 earnings per share. On average, sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business’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 completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on FDX shares. Barclays decreased their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Stephens lowered their price target on FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Bank of America cut their price objective on shares of FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Stifel Nicolaus lowered their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $297.63.

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.