Nissay Asset Management Corp Japan ADV Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Nissay Asset Management Corp Japan ADV reduced its position in FedEx Co. (NYSE:FDX) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,902 shares of the shipping service provider’s stock after selling 256 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in FedEx were worth $8,103,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC bought a new stake in shares of FedEx during the 4th quarter worth $26,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the 4th quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Activest Wealth Management bought a new position in shares of FedEx in the 4th quarter worth about $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 0.1%

Shares of NYSE FDX opened at $231.60 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $55.49 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The business has a fifty day simple moving average of $223.23 and a two-hundred day simple moving average of $256.98. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $3.86 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FDX. Cfra Research upgraded FedEx to a “hold” rating in a report on Thursday, March 20th. Piper Sandler downgraded FedEx to a “neutral” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. 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. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $297.63.

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.