Jacobs Levy Equity Management Inc. Takes $246,000 Position in FedEx Co. (NYSE:FDX)

Jacobs Levy Equity Management Inc. acquired a new stake in FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 875 shares of the shipping service provider’s stock, valued at approximately $246,000.

Several other institutional investors have also modified their holdings of FDX. Transce3nd LLC acquired a new stake in shares of FedEx in the fourth quarter valued at $26,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Activest Wealth Management acquired a new stake in shares of FedEx during the fourth quarter worth $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $229.34 on Monday. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock’s 50-day moving average is $222.96 and its two-hundred day moving average is $256.41. The firm has a market cap of $54.95 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. 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 issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FDX. BMO Capital Markets cut their target price on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and cut their target price for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Finally, Raymond James cut their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.63.

Insider Activity at FedEx

In other FedEx 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 transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is currently owned by company insiders.

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.