Nissay Asset Management Corp Japan ADV Sells 256 Shares of FedEx Co. (NYSE:FDX)

Nissay Asset Management Corp Japan ADV lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,902 shares of the shipping service provider’s stock after selling 256 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in FedEx were worth $8,103,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. bLong Financial LLC acquired a new stake in FedEx during the fourth quarter worth $391,000. Lodestone Wealth Management LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $461,000. GFS Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter valued at $26,855,000. Assenagon Asset Management S.A. increased its position in FedEx by 137.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock valued at $64,133,000 after acquiring an additional 132,036 shares in the last quarter. Finally, Gries Financial LLC lifted its holdings in FedEx by 16.6% during the 4th quarter. Gries Financial LLC now owns 8,780 shares of the shipping service provider’s stock worth $2,470,000 after buying an additional 1,252 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.1%

NYSE FDX opened at $231.60 on Friday. The stock has a market capitalization of $55.49 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.11 and a beta of 1.36. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The business has a 50 day simple moving average of $223.23 and a 200 day simple moving average of $256.98. 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 (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the company posted $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on FDX. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. BMO Capital Markets cut their price target on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Piper Sandler downgraded shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, Stephens dropped their price objective on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $297.63.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction 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 directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.87% of the company’s stock.

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.