Gradient Investments LLC Sells 63 Shares of FedEx Co. (NYSE:FDX)

Gradient Investments LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,805 shares of the shipping service provider’s stock after selling 63 shares during the period. Gradient Investments LLC’s holdings in FedEx were worth $440,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FDX. Transce3nd LLC bought a new position in FedEx during the 4th quarter valued at $26,000. Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx during the 4th quarter valued at $28,000. Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter valued at $29,000. Finally, R Squared Ltd purchased a new stake in shares of FedEx during the 4th quarter valued at $31,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FDX. Stifel Nicolaus decreased their target price on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. Finally, Citigroup decreased their price objective on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $296.17.

FedEx Stock Down 0.2%

Shares of NYSE FDX opened at $217.76 on Tuesday. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The business has a 50-day simple moving average of $217.76 and a two-hundred day simple moving average of $251.40. 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 $52.18 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last issued 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 business had revenue of $22.16 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $3.86 EPS. Research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $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 can be accessed through this link. Corporate 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.