Wexford Capital LP Sells 16,160 Shares of FedEx Co. (NYSE:FDX)

Wexford Capital LP lessened its stake in shares of FedEx Co. (NYSE:FDX) by 88.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,205 shares of the shipping service provider’s stock after selling 16,160 shares during the quarter. Wexford Capital LP’s holdings in FedEx were worth $620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDX. Norges Bank bought a new position in shares of FedEx during the 4th quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the 4th quarter worth about $234,028,000. Dodge & Cox raised its holdings in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx in the 4th quarter worth about $145,733,000. Finally, ACR Alpine Capital Research LLC raised its holdings in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.8%

FedEx stock opened at $229.34 on Monday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $222.96 and a 200 day simple moving average of $256.41.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the prior year, the firm posted $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and lowered their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. UBS Group lowered their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Citigroup decreased their price objective on shares of FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays decreased their price objective on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus 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.