Beach Investment Counsel Inc. PA Has $35.23 Million Stake in FedEx Co. (NYSE:FDX)

Beach Investment Counsel Inc. PA lifted its position in shares of FedEx Co. (NYSE:FDX) by 86.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 141,188 shares of the shipping service provider’s stock after purchasing an additional 65,425 shares during the quarter. FedEx comprises approximately 3.4% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 7th largest holding. Beach Investment Counsel Inc. PA owned approximately 0.05% of FedEx worth $35,232,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares in the last quarter. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. RNC Capital Management LLC raised its position in shares of FedEx by 0.8% in the 2nd quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after purchasing an additional 15 shares in the last quarter. High Falls Advisors Inc raised its position in shares of FedEx by 2.1% during the 2nd quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after acquiring an additional 23 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of FedEx by 2.9% during the 2nd quarter. MAI Capital Management now owns 1,430 shares of the shipping service provider’s stock valued at $311,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Shares of FedEx Co. (FDX) opened at $239.93 on Tuesday. The stock has a market capitalization of $63,039.78, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.30. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $274.66.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter last year, the company earned $2.80 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. equities research analysts forecast that FedEx Co. will post 13.45 earnings per share for the current fiscal year.

In related news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock valued at $13,692,142 in the last quarter. Corporate insiders own 8.45% of the company’s stock.

FDX has been the subject of a number of recent research reports. Zacks Investment Research upgraded FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price objective for the company in a research note on Thursday, January 18th. Bank of America reissued a “buy” rating and issued a $315.00 price target on shares of FedEx in a research note on Friday, January 12th. BMO Capital Markets reissued a “buy” rating and issued a $300.00 price target on shares of FedEx in a research note on Monday, January 8th. Robert W. Baird reissued a “buy” rating and issued a $280.00 price target on shares of FedEx in a research note on Tuesday, January 9th. Finally, UBS Group raised FedEx from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $302.00 in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. FedEx has a consensus rating of “Buy” and a consensus target price of $272.69.

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About FedEx

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.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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