FedEx Co. (NYSE:FDX) Shares Purchased by Olstein Capital Management L.P.

Olstein Capital Management L.P. raised its position in FedEx Co. (NYSE:FDX) by 10.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,000 shares of the shipping service provider’s stock after purchasing an additional 3,000 shares during the period. FedEx comprises approximately 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 28th biggest holding. Olstein Capital Management L.P.’s holdings in FedEx were worth $7,557,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FDX. Transce3nd LLC acquired a new stake in FedEx in the 4th quarter valued at about $26,000. Kentucky Trust Co purchased a new stake in shares of FedEx in the fourth quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Activest Wealth Management purchased a new position in shares of FedEx during the 4th quarter worth approximately $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FDX shares. Cfra Research raised FedEx to a “hold” rating in a research report on Thursday, March 20th. BMO Capital Markets dropped their price objective on FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research report on Monday, May 19th. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Stifel Nicolaus cut their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

FedEx Stock Up 1.5%

Shares of NYSE FDX opened at $219.96 on Monday. The stock has a fifty day moving average price of $215.83 and a 200 day moving average price of $249.33. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a market cap of $52.70 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.11 and a beta of 1.35.

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

Insider Transactions 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 value of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.87% of the company’s stock.

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.