Toronto Dominion Bank Boosts Holdings in FedEx Co. (NYSE:FDX)

Toronto Dominion Bank grew its holdings in shares of FedEx Co. (NYSE:FDX) by 56.7% during the 4th quarter, HoldingsChannel reports. The fund owned 131,302 shares of the shipping service provider’s stock after acquiring an additional 47,491 shares during the quarter. Toronto Dominion Bank’s holdings in FedEx were worth $36,939,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FDX. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth $807,352,000. Raymond James Financial Inc. purchased a new position in shares of FedEx in the fourth quarter worth $234,028,000. Dodge & Cox increased its stake in shares of 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 buying an additional 734,268 shares during the period. Capital Research Global Investors purchased a new position in shares of FedEx in the fourth quarter worth $145,733,000. Finally, ACR Alpine Capital Research LLC increased its stake in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FDX has been the topic of several analyst reports. Raymond James decreased their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. TD Cowen decreased their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and reduced their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Truist Financial reduced their price objective on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reduced their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” 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 issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.63.

FedEx Stock Down 0.8%

NYSE:FDX opened at $229.34 on Monday. The firm’s 50-day moving average price is $222.96 and its 200-day moving average price is $256.41. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last announced 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). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period last year, the company posted $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

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.