FedEx Co. (NYSE:FDX) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in FedEx Co. (NYSE:FDX) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,719 shares of the shipping service provider’s stock after selling 1,105 shares during the period. ProShare Advisors LLC’s holdings in FedEx were worth $9,205,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Transce3nd LLC acquired a new stake in FedEx in the 4th quarter valued at about $26,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $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 acquired a new position in shares of FedEx during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $229.34 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a market cap of $54.95 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The stock’s 50-day moving average is $222.96 and its 200-day moving average is $256.54.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the firm earned $3.86 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

Insider Buying and Selling

In other FedEx 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 value of $1,499,050.25. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. 8.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on FDX shares. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and lowered their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Stephens decreased their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Finally, TD Cowen lowered their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $297.63.

FedEx 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.