NorthRock Partners LLC Boosts Position in FedEx Co. (NYSE:FDX)

NorthRock Partners LLC raised its position in FedEx Co. (NYSE:FDX) by 220.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,459 shares of the shipping service provider’s stock after acquiring an additional 1,692 shares during the quarter. NorthRock Partners LLC’s holdings in FedEx were worth $692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Vanguard Group Inc. boosted its holdings in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Dodge & Cox raised its position in 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. Geode Capital Management LLC boosted its stake in shares of FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after acquiring an additional 109,006 shares during the last quarter. Franklin Resources Inc. grew its position in shares of FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after acquiring an additional 323,115 shares during the period. Finally, Invesco Ltd. increased its stake in shares of FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after purchasing an additional 127,044 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 0.1%

NYSE FDX opened at $231.60 on Friday. The stock has a 50 day moving average price of $223.23 and a 200-day moving average price of $256.98. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $55.49 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.11 and a beta of 1.36.

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

Insider Buying and Selling at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.