FedEx Co. (NYSE:FDX) Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,050 shares of the shipping service provider’s stock after selling 93 shares during the period. Neville Rodie & Shaw Inc.’s holdings in FedEx were worth $500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter worth $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the 4th quarter worth $234,028,000. Dodge & Cox lifted its stake 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 period. Capital Research Global Investors purchased a new stake in shares of FedEx in the fourth quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC increased its stake in shares of FedEx by 62.9% during the fourth 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 period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This 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 Price Performance

NYSE:FDX opened at $220.03 on Friday. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The firm has a market cap of $52.72 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. The company’s 50-day moving average is $218.75 and its two-hundred day moving average is $252.97. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced 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 firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.86 EPS. Research analysts expect that FedEx Co. will post 19.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on FDX. Stephens reiterated an “overweight” rating and set a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. Truist Financial dropped their price objective on FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $296.17.

About FedEx

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.