Apella Capital LLC Buys Shares of 4,702 FedEx Co. (NYSE:FDX)

by · The Cerbat Gem

Apella Capital LLC bought a new stake in FedEx Co. (NYSE:FDX – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,702 shares of the shipping service provider’s stock, valued at approximately $1,146,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Transce3nd LLC acquired a new position in FedEx during the fourth quarter worth $26,000. Kentucky Trust Co acquired a new position in shares of FedEx in the fourth quarter worth $28,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx in the fourth quarter worth $28,000. Activest Wealth Management acquired a new position in shares of FedEx in the fourth quarter worth $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx in the fourth quarter worth $32,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FDX shares. Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target for the company. Citigroup dropped their target price on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets dropped their target price on FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research note on Monday, May 19th. Wells Fargo & Company dropped 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, Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $295.33.

View Our Latest Report on FDX

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 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 of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 8.87% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE FDX opened at $218.95 on Thursday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The business has a 50-day moving average of $216.82 and a 200-day moving average of $250.96. 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 capitalization of $52.46 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX – Get Free Report) 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). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the previous year, the company earned $3.86 EPS. FedEx’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

About FedEx

(Free Report)

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.

See Also

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