Fiera Capital Corp reduced its stake in FedEx Co. (NYSE:FDX) by 9.6% in the first quarter, HoldingsChannel.com reports. The fund owned 725 shares of the shipping service provider’s stock after selling 77 shares during the quarter. Fiera Capital Corp’s holdings in FedEx were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of FDX. Norges Bank acquired a new position in FedEx in the fourth quarter valued at approximately $523,326,000. BlackRock Inc. boosted its stake in FedEx by 9.5% in the fourth quarter. BlackRock Inc. now owns 18,112,791 shares of the shipping service provider’s stock valued at $4,702,442,000 after acquiring an additional 1,570,609 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in FedEx by 4.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,127,584 shares of the shipping service provider’s stock valued at $2,629,323,000 after acquiring an additional 435,381 shares during the period. FMR LLC boosted its stake in FedEx by 5.9% in the fourth quarter. FMR LLC now owns 5,473,734 shares of the shipping service provider’s stock valued at $1,421,090,000 after acquiring an additional 303,415 shares during the period. Finally, AGF Investments Inc. boosted its position in shares of FedEx by 14,783.0% during the fourth quarter. AGF Investments Inc. now owns 255,838 shares of the shipping service provider’s stock worth $66,421,000 after buying an additional 254,119 shares during the period. Institutional investors own 71.98% of the company’s stock.
NYSE FDX opened at $292.84 on Friday. The company has a market capitalization of $77.70 billion, a PE ratio of 25.94, a P/E/G ratio of 1.24 and a beta of 1.25. FedEx Co. has a 1 year low of $127.29 and a 1 year high of $319.90. The firm has a fifty day moving average of $297.67. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.60 and a quick ratio of 1.56.
In other FedEx news, CEO Frederick W. Smith sold 102,000 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $290.02, for a total transaction of $29,582,040.00. Following the sale, the chief executive officer now directly owns 14,595,728 shares of the company’s stock, valued at approximately $4,233,053,034.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John L. Merino sold 10,000 shares of the business’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $273.30, for a total transaction of $2,733,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,773 shares of company stock worth $53,374,869. Company insiders own 8.49% of the company’s stock.
FDX has been the subject of several analyst reports. KeyCorp boosted their price objective on FedEx from $350.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 26th. JPMorgan Chase & Co. set a $340.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Thursday, April 8th. Raymond James boosted their price objective on FedEx from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, June 4th. Robert W. Baird reiterated a “buy” rating on shares of FedEx in a research report on Sunday, February 21st. Finally, Sanford C. Bernstein set a $324.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $318.33.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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