Lmcg Investments LLC Reduces Stock Position in FedEx Co. (NYSE:FDX)

Lmcg Investments LLC lowered its position in FedEx Co. (NYSE:FDX) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,785 shares of the shipping service provider’s stock after selling 2,447 shares during the quarter. Lmcg Investments LLC’s holdings in FedEx were worth $7,992,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC bought a new position in shares of FedEx in the fourth quarter worth $26,000. Kentucky Trust Co bought a new position in shares of FedEx in the fourth quarter worth $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx in the fourth quarter worth $28,000. Activest Wealth Management bought a new position in shares of FedEx in the fourth quarter worth $29,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of FedEx in the fourth quarter worth $32,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $218.95 on Thursday. 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 firm has a 50-day moving average of $216.82 and a 200-day moving average of $250.96. The firm has a market cap of $52.46 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.11 and a beta of 1.35. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FDX shares. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Bank of America reduced their target price on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Stifel Nicolaus reduced their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Finally, TD Cowen reduced their target price on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $295.33.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the 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 completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.87% of the stock is currently owned by company insiders.

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.