Enterprise Bank & Trust Co Buys New Position in FedEx Co. (NYSE:FDX)

Enterprise Bank & Trust Co bought a new stake in FedEx Co. (NYSE:FDX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,278 shares of the shipping service provider’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FDX. Woodstock Corp boosted its stake in shares of FedEx by 17.6% in the first quarter. Woodstock Corp now owns 30,133 shares of the shipping service provider’s stock valued at $7,346,000 after purchasing an additional 4,499 shares during the period. Wright Investors Service Inc. acquired a new stake in FedEx during the 1st quarter worth approximately $838,000. Czech National Bank boosted its position in FedEx by 4.4% in the 1st quarter. Czech National Bank now owns 50,894 shares of the shipping service provider’s stock valued at $12,407,000 after buying an additional 2,157 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of FedEx by 7.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,586 shares of the shipping service provider’s stock worth $387,000 after acquiring an additional 116 shares in the last quarter. Finally, Allied Investment Advisors LLC grew its stake in shares of FedEx by 6.5% in the first quarter. Allied Investment Advisors LLC now owns 43,445 shares of the shipping service provider’s stock worth $10,591,000 after acquiring an additional 2,641 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FDX shares. Raymond James decreased their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, BMO Capital Markets decreased their price target on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $296.17.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.87% of the stock is owned by company insiders.

FedEx Stock Down 1.1%

Shares of NYSE FDX opened at $217.91 on Monday. The business has a 50-day moving average price of $218.29 and a 200 day moving average price of $251.93. The stock has a market cap of $52.21 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. 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 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.86 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

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.