Bank Julius Baer & Co. Ltd Zurich Sells 2,600 Shares of FedEx Corporation $FDX

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 30.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,801 shares of the shipping service provider’s stock after selling 2,600 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in FedEx were worth $1,676,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allworth Financial LP lifted its position in FedEx by 1.3% in the 4th quarter. Allworth Financial LP now owns 11,733 shares of the shipping service provider’s stock worth $3,389,000 after buying an additional 151 shares during the last quarter. SFE Investment Counsel lifted its position in FedEx by 0.4% in the 4th quarter. SFE Investment Counsel now owns 17,252 shares of the shipping service provider’s stock worth $4,983,000 after buying an additional 65 shares during the last quarter. Cardinal Point Capital Management ULC lifted its position in FedEx by 4.7% in the 4th quarter. Cardinal Point Capital Management ULC now owns 28,842 shares of the shipping service provider’s stock worth $8,331,000 after buying an additional 1,289 shares during the last quarter. Atria Investments Inc lifted its position in FedEx by 0.8% in the 4th quarter. Atria Investments Inc now owns 50,142 shares of the shipping service provider’s stock worth $14,484,000 after buying an additional 421 shares during the last quarter. Finally, Mainsail Asset Management LLC bought a new stake in FedEx in the 4th quarter worth approximately $255,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $375.99 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx Corporation has a 52-week low of $214.35 and a 52-week high of $404.03. The stock has a market capitalization of $89.71 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The stock’s 50 day moving average price is $369.04 and its 200-day moving average price is $328.17.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the previous year, the firm earned $4.51 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that FedEx Corporation will post 19.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FDX shares. The Goldman Sachs Group boosted their target price on FedEx from $364.00 to $369.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Susquehanna boosted their target price on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. Jefferies Financial Group boosted their target price on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Truist Financial boosted their target price on FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Citigroup lifted their price target on FedEx from $327.00 to $401.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $398.04.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.