Spring Capital Management LLC Makes New $284,000 Investment in FedEx Co. (NYSE:FDX)

Spring Capital Management LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 1,166 shares of the shipping service provider’s stock, valued at approximately $284,000.

Several other hedge funds also recently modified their holdings of the company. RFG Advisory LLC raised its holdings in shares of FedEx by 26.8% in the 1st quarter. RFG Advisory LLC now owns 1,312 shares of the shipping service provider’s stock worth $320,000 after purchasing an additional 277 shares in the last quarter. Merit Financial Group LLC grew its position in FedEx by 54.7% in the first quarter. Merit Financial Group LLC now owns 4,374 shares of the shipping service provider’s stock worth $1,066,000 after buying an additional 1,546 shares during the last quarter. Sweeney & Michel LLC bought a new position in shares of FedEx in the first quarter valued at $1,002,000. NBC Securities Inc. acquired a new stake in shares of FedEx during the 1st quarter valued at $147,000. Finally, Enterprise Bank & Trust Co bought a new stake in shares of FedEx during the 1st quarter worth $312,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.2%

FedEx stock opened at $217.76 on Tuesday. 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 Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The firm’s fifty day simple moving average is $217.76 and its 200-day simple moving average is $251.40. The company has a market capitalization of $52.18 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their target price for the company from $300.00 to $275.00 in a report on Monday, March 24th. Stifel Nicolaus dropped their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial decreased their price objective on FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $296.17.

FedEx 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.