FedEx Co. (NYSE:FDX) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in FedEx Co. (NYSE:FDX) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,719 shares of the shipping service provider’s stock after selling 1,105 shares during the period. ProShare Advisors LLC’s holdings in FedEx were worth $9,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of FedEx in the 4th quarter valued at about $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx in the fourth quarter worth approximately $234,028,000. Dodge & Cox lifted its stake in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Capital Research Global Investors acquired a new position in FedEx during the 4th quarter worth approximately $145,733,000. Finally, ACR Alpine Capital Research LLC increased its position in shares of FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after purchasing an additional 329,170 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE FDX opened at $229.34 on Friday. 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 $54.95 billion, a PE ratio of 14.62, a P/E/G ratio of 1.11 and a beta of 1.36. The stock has a fifty day moving average price of $222.96 and a 200 day moving average price of $256.54. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

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

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FDX shares. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Stifel Nicolaus lowered their price objective on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. UBS Group dropped their price objective on FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company decreased their target price on FedEx from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $297.63.

FedEx 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.