Trexquant Investment LP Sells 69,881 Shares of FedEx Co. (NYSE:FDX)

Trexquant Investment LP reduced its position in FedEx Co. (NYSE:FDX) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,410 shares of the shipping service provider’s stock after selling 69,881 shares during the period. Trexquant Investment LP’s holdings in FedEx were worth $1,875,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in FedEx by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after acquiring an additional 59,161 shares during the last quarter. Sentry LLC purchased a new position in FedEx in the 4th quarter worth approximately $1,811,748,000. FMR LLC raised its holdings in FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares during the last quarter. Morgan Stanley raised its holdings in FedEx by 1.1% in the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after acquiring an additional 35,085 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in FedEx by 13.6% in the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after acquiring an additional 360,680 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FDX shares. Evercore ISI boosted their price objective on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. TD Cowen boosted their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $301.00 to $296.00 and set a “neutral” rating for the company in a research note on Friday. Jefferies Financial Group boosted their target price on shares of FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, BNP Paribas reiterated an “underperform” rating and set a $250.00 target price on shares of FedEx in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $300.74.

FedEx Price Performance

Shares of FDX opened at $247.59 on Monday. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a 50 day moving average of $266.81 and a two-hundred day moving average of $256.84. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market cap of $60.93 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.95 billion. During the same period in the previous year, the firm posted $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx announced that its board has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the completion of the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other FedEx news, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at $140,507.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the completion of the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 over the last 90 days. Insiders own 8.73% of the company’s stock.

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.