1,763 Shares in FedEx Co. (NYSE:FDX) Purchased by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC bought a new stake in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,763 shares of the shipping service provider’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. bLong Financial LLC bought a new position in FedEx during the fourth quarter valued at about $391,000. Lodestone Wealth Management LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $461,000. GFS Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $26,855,000. Gries Financial LLC lifted its stake in FedEx by 16.6% during the fourth quarter. Gries Financial LLC now owns 8,780 shares of the shipping service provider’s stock valued at $2,470,000 after purchasing an additional 1,252 shares during the last quarter. Finally, KBC Group NV boosted its holdings in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after buying an additional 226,608 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’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 transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents 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 available through the SEC website. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen raised FedEx from a “hold” rating to a “buy” rating in a report on Thursday. Cfra Research raised FedEx to a “hold” rating in a research report on Thursday, March 20th. Stifel Nicolaus decreased their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company dropped their price target on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Bank of America reduced their price objective on shares of FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Two research 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, FedEx presently has an average rating of “Moderate Buy” and an average price target of $297.00.

FedEx Trading Down 0.9%

NYSE FDX opened at $216.85 on Friday. The company has a market capitalization of $51.96 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 1-year low of $194.30 and a 1-year 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. The firm’s fifty day simple moving average is $220.59 and its 200-day simple moving average is $254.80.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share 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 analyst estimates of $21.96 billion. During the same period in the previous year, the company earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Company 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.