Ariel Capital Advisors LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 3.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,413 shares of the shipping service provider’s stock after selling 367 shares during the period. Ariel Capital Advisors LLC’s holdings in FedEx were worth $2,227,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of The Ozarks boosted its position in shares of FedEx by 3.6% in the third quarter. Bank of The Ozarks now owns 9,405 shares of the shipping service provider’s stock worth $1,643,000 after buying an additional 330 shares in the last quarter. Barometer Capital Management Inc. bought a new position in shares of FedEx during the fourth quarter worth approximately $17,335,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of FedEx by 12.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 48,944 shares of the shipping service provider’s stock worth $9,113,000 after buying an additional 5,435 shares in the last quarter. LSV Asset Management boosted its position in shares of FedEx by 27.6% in the third quarter. LSV Asset Management now owns 2,212,650 shares of the shipping service provider’s stock worth $386,505,000 after buying an additional 478,278 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of FedEx by 16.8% in the fourth quarter. Federated Investors Inc. PA now owns 314,377 shares of the shipping service provider’s stock worth $58,537,000 after buying an additional 45,285 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Shares of FedEx Co. (NYSE:FDX) opened at 194.81 on Friday. The company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 27.70 and a beta of 1.14. The company has a 50-day moving average price of $190.16 and a 200 day moving average price of $190.80. FedEx Co. has a one year low of $145.00 and a one year high of $201.57.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.62 by $0.27. FedEx had a net margin of 3.35% and a return on equity of 22.02%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $15 billion. During the same quarter in the previous year, the business posted $2.51 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post $11.93 EPS for the current fiscal year.
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FDX has been the topic of a number of recent research reports. Vetr upgraded FedEx from a “hold” rating to a “buy” rating and set a $208.57 price objective on the stock in a research note on Tuesday, February 21st. Barclays PLC restated an “overweight” rating and set a $230.00 price objective on shares of FedEx in a research note on Monday, March 20th. JPMorgan Chase & Co. restated an “outperform” rating and set a $236.00 price objective (up previously from $230.00) on shares of FedEx in a research note on Monday, March 20th. Credit Suisse Group AG restated an “outperform” rating and set a $209.00 price objective (up previously from $205.00) on shares of FedEx in a research note on Monday, March 6th. Finally, Deutsche Bank AG boosted their price objective on FedEx to $210.00 and gave the stock a “positive” rating in a research note on Wednesday, March 22nd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $207.73.
In related news, Director Paul S. Walsh sold 4,400 shares of the stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $196.38, for a total value of $864,072.00. Following the completion of the sale, the director now owns 14,400 shares in the company, valued at $2,827,872. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frederick W. Smith sold 135,000 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $189.02, for a total transaction of $25,517,700.00. Following the completion of the sale, the chief executive officer now owns 15,326,133 shares of the company’s stock, valued at approximately $2,896,945,659.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,598 shares of company stock valued at $37,347,615. 8.67% of the stock is owned by corporate insiders.
FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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