TFO Wealth Partners LLC Raises Position in FedEx Co. (NYSE:FDX)

TFO Wealth Partners LLC boosted its position in shares of FedEx Co. (NYSE:FDXFree Report) by 3,148.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,703 shares of the shipping service provider’s stock after purchasing an additional 3,589 shares during the period. TFO Wealth Partners LLC’s holdings in FedEx were worth $937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sentry LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $1,811,748,000. Norges Bank acquired a new position in FedEx in the fourth quarter valued at approximately $700,291,000. Mizuho Markets Americas LLC acquired a new stake in shares of FedEx during the 3rd quarter worth about $496,611,000. FMR LLC lifted its holdings in shares of FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of FedEx by 33,890.5% during the fourth quarter. International Assets Investment Management LLC now owns 651,597 shares of the shipping service provider’s stock worth $166,972,000 after buying an additional 649,680 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. BMO Capital Markets raised their target price on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. TD Cowen raised their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Finally, Bank of America lowered their price target on shares of FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $300.74.

View Our Latest Stock Report on FDX

FedEx Stock Up 1.8 %

Shares of FedEx stock traded up $4.47 during trading on Thursday, reaching $249.58. The company had a trading volume of 1,083,789 shares, compared to its average volume of 1,854,892. The company has a market cap of $61.42 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The firm’s fifty day moving average is $266.24 and its 200-day moving average is $256.82. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

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

FedEx declared that its board has initiated a share buyback plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

About FedEx

(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.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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