Greenwood Capital Associates LLC Reduces Stake in FedEx Co. (FDX)

Greenwood Capital Associates LLC reduced its holdings in FedEx Co. (NYSE:FDX) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,831 shares of the shipping service provider’s stock after selling 466 shares during the quarter. FedEx makes up 1.6% of Greenwood Capital Associates LLC’s portfolio, making the stock its 11th biggest holding. Greenwood Capital Associates LLC’s holdings in FedEx were worth $6,945,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FDX. Salem Investment Counselors Inc. increased its stake in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the last quarter. Cerebellum GP LLC acquired a new stake in FedEx during the fourth quarter worth about $125,000. Krilogy Financial LLC increased its stake in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in FedEx during the third quarter worth about $132,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in FedEx during the third quarter worth about $136,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

In related news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 in the last three months. 8.45% of the stock is currently owned by company insiders.

Several equities research analysts have commented on FDX shares. Loop Capital upped their price target on FedEx to $318.00 in a research note on Thursday, January 4th. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Bank of America upped their price target on FedEx from $247.00 to $293.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Wells Fargo & Co set a $275.00 price target on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Goldman Sachs Group started coverage on FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FedEx presently has an average rating of “Buy” and a consensus price target of $272.69.

Shares of FedEx Co. (NYSE:FDX) traded up $0.79 on Wednesday, reaching $241.11. The company had a trading volume of 1,197,499 shares, compared to its average volume of 1,963,542. The stock has a market capitalization of $64,300.00, a P/E ratio of 22.16, a P/E/G ratio of 1.40 and a beta of 1.30. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $274.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. FedEx’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.80 earnings per share. sell-side analysts anticipate that FedEx Co. will post 13.45 earnings per share for the current year.

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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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