Point72 Asia Singapore Pte. Ltd. Takes $546,000 Position in FedEx Co. (NYSE:FDX)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,940 shares of the shipping service provider’s stock, valued at approximately $546,000.

Several other large investors have also recently added to or reduced their stakes in the business. Point72 Italy S.r.l. purchased a new position in shares of FedEx in the 4th quarter valued at $9,481,000. Quantinno Capital Management LP lifted its position in shares of FedEx by 31.8% during the fourth quarter. Quantinno Capital Management LP now owns 19,198 shares of the shipping service provider’s stock worth $5,401,000 after purchasing an additional 4,631 shares during the last quarter. Paradoxiom Capital L.P. acquired a new position in shares of FedEx in the 4th quarter worth approximately $9,569,000. Mufg Securities Americas Inc. bought a new stake in FedEx during the fourth quarter valued at $934,000. Finally, Man Group plc grew its position in shares of FedEx by 274.3% during the 4th quarter. Man Group plc now owns 7,253 shares of the shipping service provider’s stock valued at $2,040,000 after buying an additional 5,315 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FDX stock opened at $231.60 on Friday. The stock’s fifty day moving average price is $223.23 and its 200-day moving average price is $256.98. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $55.49 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.86 EPS. On average, equities analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on FDX shares. JPMorgan Chase & Co. cut their target price on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective 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. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and decreased their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial dropped their price target on FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $297.63.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were 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 owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by company insiders.

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.