FedEx Co. (NYSE:FDX) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 630,171 shares of the shipping service provider’s stock after purchasing an additional 17,491 shares during the quarter. Wells Fargo & Company MN’s holdings in FedEx were worth $159,414,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. lifted its holdings in shares of FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx during the fourth quarter worth $31,000. Finally, Planned Solutions Inc. acquired a new stake in FedEx in the fourth quarter valued at $32,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. Barclays raised their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Morgan Stanley raised their target price on FedEx from $195.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. BNP Paribas reissued an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Finally, TD Cowen raised their target price on FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.07.

Read Our Latest Research Report on FedEx

FedEx Stock Down 0.9 %

FDX opened at $252.33 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $62.09 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The business has a 50-day moving average of $267.12 and a two-hundred day moving average of $256.74. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.41 EPS. On average, research analysts expect that FedEx Co. will post 17.69 earnings per share for the current year.

FedEx declared that its board has approved a stock repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Susan C. Schwab sold 6,145 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the sale, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by company insiders.

FedEx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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