Truist Financial Corp grew its holdings in FedEx Co. (NYSE:FDX – Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,459 shares of the shipping service provider’s stock after purchasing an additional 1,457 shares during the period. Truist Financial Corp’s holdings in FedEx were worth $25,467,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Martin & Co. Inc. TN lifted its holdings in shares of FedEx by 2.2% in the fourth quarter. Martin & Co. Inc. TN now owns 5,080 shares of the shipping service provider’s stock valued at $880,000 after purchasing an additional 110 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of FedEx during the first quarter worth $405,000. Kovack Advisors Inc. raised its holdings in shares of FedEx by 5.8% during the first quarter. Kovack Advisors Inc. now owns 3,619 shares of the shipping service provider’s stock worth $827,000 after acquiring an additional 197 shares in the last quarter. McGinn Investment Management Inc. raised its holdings in shares of FedEx by 25.6% during the fourth quarter. McGinn Investment Management Inc. now owns 23,864 shares of the shipping service provider’s stock worth $4,133,000 after acquiring an additional 4,860 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of FedEx by 36.0% during the first quarter. HB Wealth Management LLC now owns 21,752 shares of the shipping service provider’s stock worth $4,970,000 after acquiring an additional 5,761 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.
FedEx Stock Up 0.5 %
FDX stock opened at $264.41 on Tuesday. The company has a market cap of $66.42 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. FedEx Co. has a twelve month low of $141.92 and a twelve month high of $270.95. The business’s 50-day simple moving average is $244.79 and its 200 day simple moving average is $226.09.
Insiders Place Their Bets
In other news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the transaction, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the completion of the transaction, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael C. Lenz sold 5,745 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the completion of the transaction, the executive vice president now owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The disclosure for this sale can be found here. Insiders sold a total of 35,816 shares of company stock worth $8,822,147 over the last quarter. Company insiders own 8.62% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on FDX. Stifel Nicolaus increased their price objective on FedEx from $259.00 to $288.00 in a report on Wednesday, July 26th. Evercore ISI cut their price objective on FedEx from $282.00 to $275.00 in a report on Wednesday, June 21st. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday. Raymond James lowered their target price on shares of FedEx from $285.00 to $280.00 in a research report on Friday, June 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of FedEx from $228.00 to $251.00 in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.14.
View Our Latest Stock Report on FedEx
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.
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