FedEx Co. (NYSE:FDX) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 19.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,992 shares of the shipping service provider’s stock after acquiring an additional 809 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in FedEx were worth $1,217,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in FedEx during the fourth quarter worth about $26,000. Kentucky Trust Co acquired a new position in FedEx during the fourth quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the fourth quarter worth about $28,000. Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth about $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in FedEx during the fourth quarter worth about $32,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Up 1.5%

Shares of FedEx stock opened at $219.96 on Friday. The firm has a market cap of $52.70 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The stock has a 50-day simple moving average of $215.83 and a 200-day simple moving average of $249.91.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.86 earnings per share. On average, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’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 value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Bank of America lowered their target price on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Stifel Nicolaus lowered their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Citigroup lowered their target price on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and dropped their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

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.