Laurel Grove Capital LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 6.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,650 shares of the shipping service provider’s stock after selling 600 shares during the period. Laurel Grove Capital LLC’s holdings in FedEx were worth $2,159,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Culbertson A N & Co. Inc. lifted its stake in shares of FedEx by 3.7% in the 4th quarter. Culbertson A N & Co. Inc. now owns 34,476 shares of the shipping service provider’s stock worth $8,603,000 after purchasing an additional 1,221 shares during the period. UMB Bank N A MO raised its stake in FedEx by 38.7% during the 4th quarter. UMB Bank N A MO now owns 31,053 shares of the shipping service provider’s stock worth $7,749,000 after acquiring an additional 8,657 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in FedEx during the 4th quarter worth approximately $226,000. Cornerstone Investment Partners LLC raised its stake in FedEx by 105.0% during the 4th quarter. Cornerstone Investment Partners LLC now owns 687,170 shares of the shipping service provider’s stock worth $171,476,000 after acquiring an additional 351,909 shares during the period. Finally, Hendershot Investments Inc. bought a new stake in FedEx during the 4th quarter worth approximately $228,000. Institutional investors and hedge funds own 75.94% of the company’s stock.
FedEx Co. (NYSE FDX) opened at $240.82 on Thursday. FedEx Co. has a twelve month low of $182.89 and a twelve month high of $274.66. The stock has a market capitalization of $64,510.00, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.30. 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 announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. The company 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 period in the previous year, the company posted $2.80 earnings per share. equities research analysts predict that FedEx Co. will post 13.45 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $270.00 price objective on shares of FedEx in a report on Monday. Bank of America reissued a “buy” rating and issued a $315.00 target price on shares of FedEx in a report on Friday, January 12th. Wells Fargo & Co set a $275.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Oppenheimer reissued a “buy” rating and issued a $265.00 target price (up from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Finally, Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $272.69.
In related news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction on 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 directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction on 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 $4,267,442. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,541 shares of company stock valued at $13,692,142. Corporate insiders own 8.45% of the company’s stock.
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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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