Westwood Holdings Group Inc. Sells 265,318 Shares of FedEx Co. (NYSE:FDX)

Westwood Holdings Group Inc. reduced its position in shares of FedEx Co. (NYSE:FDX) by 82.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,413 shares of the shipping service provider’s stock after selling 265,318 shares during the period. Westwood Holdings Group Inc.’s holdings in FedEx were worth $15,589,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its stake in shares of FedEx by 8.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,183 shares of the shipping service provider’s stock valued at $1,177,000 after acquiring an additional 334 shares during the last quarter. Ritholtz Wealth Management bought a new position in FedEx in the 4th quarter valued at $249,000. Merit Financial Group LLC raised its position in FedEx by 13.8% in the 4th quarter. Merit Financial Group LLC now owns 2,828 shares of the shipping service provider’s stock valued at $796,000 after purchasing an additional 344 shares during the last quarter. Ameritas Advisory Services LLC raised its position in FedEx by 0.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 7,152 shares of the shipping service provider’s stock valued at $2,012,000 after purchasing an additional 45 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of FedEx by 9.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,827 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 154 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Company insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FDX. Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Truist Financial dropped their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Cfra Research upgraded shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $297.00.

FedEx Stock Down 1.5%

Shares of FedEx stock opened at $226.10 on Tuesday. The business has a 50-day moving average of $222.61 and a two-hundred day moving average of $256.08. 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 1 year low of $194.30 and a 1 year high of $313.84. The company has a market capitalization of $54.17 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

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 the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.86 EPS. As a group, equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.

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.