Nuveen Asset Management LLC Has $237.32 Million Position in FedEx Co. (NYSE:FDX)

Nuveen Asset Management LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 843,555 shares of the shipping service provider’s stock after purchasing an additional 121,915 shares during the period. Nuveen Asset Management LLC’s holdings in FedEx were worth $237,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its holdings in FedEx by 177.5% in the 4th quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Accurate Wealth Management LLC lifted its stake in shares of FedEx by 19.2% in the 4th quarter. Accurate Wealth Management LLC now owns 2,405 shares of the shipping service provider’s stock valued at $651,000 after acquiring an additional 388 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of FedEx by 2.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,685 shares of the shipping service provider’s stock valued at $1,037,000 after purchasing an additional 105 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in FedEx by 137.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock worth $64,133,000 after buying an additional 132,036 shares during the period. Finally, Kathmere Capital Management LLC grew its stake in shares of FedEx by 24.9% in the fourth quarter. Kathmere Capital Management LLC now owns 913 shares of the shipping service provider’s stock worth $257,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.1%

Shares of FedEx stock opened at $231.60 on Friday. The company’s 50-day moving average price is $223.23 and its 200-day moving average price is $256.98. The company has a market cap of $55.49 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.11 and a beta of 1.36. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

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

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets decreased their price target on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Raymond James dropped their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Truist Financial dropped their price objective on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Stephens cut their price target on FedEx from $320.00 to $300.00 and set an “overweight” 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 given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.63.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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.