Cantor Fitzgerald Investment Advisors L.P. Buys Shares of 11,309 FedEx Co. (NYSE:FDX)

Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,309 shares of the shipping service provider’s stock, valued at approximately $2,861,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx in the 4th quarter valued at $28,000. Rakuten Securities Inc. bought a new position in shares of FedEx in the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of FedEx during the 4th quarter valued at $31,000. Finally, Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter worth $32,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. BNP Paribas reiterated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI lifted their target price on shares of FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Robert W. Baird upped their price target on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. BMO Capital Markets raised their price target on shares of FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.74.

FedEx Stock Down 0.7 %

FedEx stock traded down $1.70 during midday trading on Friday, reaching $247.59. The stock had a trading volume of 1,096,590 shares, compared to its average volume of 1,253,289. The company has a fifty day moving average price of $266.81 and a two-hundred day moving average price of $256.84. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $60.93 billion, a P/E ratio of 14.28, a PEG ratio of 1.03 and a beta of 1.23.

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

FedEx declared that its Board of Directors has authorized a share repurchase program on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the sale, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders sold 136,668 shares of company stock worth $37,758,773 over the last three months. 8.73% of the stock is currently owned by insiders.

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.