Northwest Bank & Trust Co Decreases Stock Position in FedEx Co. (NYSE:FDX)

Northwest Bank & Trust Co cut its holdings in FedEx Co. (NYSE:FDX) by 46.9% in the fourth quarter, HoldingsChannel reports. The firm owned 283 shares of the shipping service provider’s stock after selling 250 shares during the quarter. Northwest Bank & Trust Co’s holdings in FedEx were worth $86,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares during the last quarter. Dodge & Cox lifted 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. Geode Capital Management LLC boosted its stake in shares of FedEx by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. grew its holdings in FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after purchasing an additional 127,044 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $216.95 on Thursday. The company has a 50 day moving average of $221.71 and a two-hundred day moving average of $255.57. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a market cap of $51.98 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

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

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. UBS Group cut their target price on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a research note on Monday. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Truist Financial dropped their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $297.00.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction 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 owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.87% of the company’s stock.

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.