Ratan Capital Management LP Lowers Position in FedEx Co. (NYSE:FDX)

Ratan Capital Management LP cut its position in FedEx Co. (NYSE:FDXFree Report) by 83.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,280 shares of the shipping service provider’s stock after selling 16,320 shares during the quarter. Ratan Capital Management LP’s holdings in FedEx were worth $830,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its holdings in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC acquired a new stake in FedEx during the 4th quarter worth $28,000. Rakuten Securities Inc. acquired a new stake in FedEx during the 4th quarter worth $30,000. Tennessee Valley Asset Management Partners purchased a new position in shares of FedEx during the 4th quarter worth $31,000. Finally, Planned Solutions Inc. purchased a new position in shares of FedEx during the 4th quarter worth $32,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. BMO Capital Markets boosted their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their price target on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. Finally, Robert W. Baird boosted their price objective on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.92.

Get Our Latest Report on FDX

Insider Buying and Selling at FedEx

In other news, Chairman Frederick W. Smith sold 113,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Down 1.0 %

Shares of FDX stock traded down $2.54 on Friday, reaching $247.73. 1,281,900 shares of the company’s stock traded hands, compared to its average volume of 1,276,772. FedEx Co. has a 12-month low of $221.20 and a 12-month high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The company has a market capitalization of $60.96 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.16. The business’s 50 day moving average price is $261.36 and its two-hundred day moving average price is $256.57.

FedEx (NYSE:FDXGet Free Report) last issued its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the previous year, the company posted $3.41 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 17.71 earnings per share for the current year.

FedEx announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

FedEx Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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