FedEx Co. (NYSE:FDX) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,337 shares of the shipping service provider’s stock after selling 70 shares during the period. Ingalls & Snyder LLC’s holdings in FedEx were worth $1,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new position in FedEx during the 4th quarter valued at about $28,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Citigroup upped their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens lowered their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Raymond James upped their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Finally, TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $321.87.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $263.30 on Friday. The company has a market capitalization of $63.41 billion, a PE ratio of 16.78, a PEG ratio of 1.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company’s 50 day moving average price is $272.98 and its 200 day moving average price is $279.56. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same period in the previous year, the company posted $3.99 EPS. FedEx’s revenue was down .7% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

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.