BTC Capital Management Inc. Increases Stock Position in FedEx Co. (NYSE:FDX)

BTC Capital Management Inc. lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,745 shares of the shipping service provider’s stock after buying an additional 347 shares during the quarter. BTC Capital Management Inc.’s holdings in FedEx were worth $6,276,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $26,000. Kentucky Trust Co purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $28,000. Activest Wealth Management purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $29,000. Finally, R Squared Ltd purchased a new stake in shares of FedEx during the 4th quarter valued at approximately $31,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on FDX shares. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and dropped their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company decreased their target price on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group decreased their target price on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.17.

FedEx Price Performance

FDX stock opened at $217.91 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The firm’s fifty day moving average is $218.29 and its 200 day moving average is $252.49. The firm has a market cap of $52.21 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $21.96 billion. During the same period in the prior year, the business posted $3.86 EPS. FedEx’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.87% of the stock is owned by insiders.

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.