Vinva Investment Management Ltd Acquires 1,111 Shares of FedEx Co. (NYSE:FDX)

Vinva Investment Management Ltd grew its stake in shares of FedEx Co. (NYSE:FDXFree Report) by 17.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,544 shares of the shipping service provider’s stock after purchasing an additional 1,111 shares during the period. Vinva Investment Management Ltd’s holdings in FedEx were worth $1,913,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. raised its position in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in shares of FedEx during the fourth quarter valued at about $30,000. Tennessee Valley Asset Management Partners purchased a new position in FedEx during the fourth quarter worth about $31,000. Finally, Planned Solutions Inc. bought a new stake in FedEx in the 4th quarter worth about $32,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 1.0 %

FDX traded down $2.61 on Friday, hitting $247.66. The company had a trading volume of 973,882 shares, compared to its average volume of 1,821,772. The stock has a fifty day simple moving average of $262.20 and a 200-day simple moving average of $256.63. 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 firm has a market capitalization of $60.94 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.90 and a beta of 1.16. FedEx Co. has a 52-week low of $221.20 and a 52-week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion for 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 business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.41 EPS. As a group, equities analysts expect that FedEx Co. will post 17.71 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred 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 directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the business’s 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 completion of the transaction, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at $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 valued at $37,758,773. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. BNP Paribas restated an “underperform” rating and set a $250.00 price target on shares of FedEx in a research note on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. BMO Capital Markets boosted their target price on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Finally, Barclays increased their price target on FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $301.92.

Read Our Latest Report on FedEx

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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