Wunderlich Capital Managemnt cut its holdings in FedEx (NYSE:FDX) by 5.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,458 shares of the shipping service provider’s stock after selling 895 shares during the period. FedEx accounts for about 2.4% of Wunderlich Capital Managemnt’s holdings, making the stock its 4th biggest position. Wunderlich Capital Managemnt’s holdings in FedEx were worth $3,472,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of FDX. Cerebellum GP LLC purchased a new stake in shares of FedEx during the 4th quarter valued at $125,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of FedEx during the 4th quarter valued at $144,000. We Are One Seven LLC purchased a new stake in shares of FedEx during the 4th quarter valued at $148,000. Centaurus Financial Inc. purchased a new stake in shares of FedEx during the 1st quarter valued at $156,000. Finally, Noesis Capital Mangement Corp purchased a new stake in shares of FedEx during the 4th quarter valued at $202,000. Institutional investors own 75.21% of the company’s stock.
Shares of FedEx opened at $247.12 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.37. FedEx has a twelve month low of $246.94 and a twelve month high of $248.54. The firm has a market cap of $66.26 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.61. The company had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.35 EPS. sell-side analysts expect that FedEx will post 15.14 earnings per share for the current year.
Several analysts have recently issued reports on FDX shares. JPMorgan Chase reissued a “buy” rating and set a $315.00 price objective on shares of FedEx in a research note on Monday, March 19th. Zacks Investment Research raised shares of 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. Sanford C. Bernstein raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price objective for the company in a research note on Friday, February 23rd. Robert W. Baird reissued a “buy” rating and set a $270.00 price objective on shares of FedEx in a research note on Monday, February 12th. Finally, KeyCorp boosted their price objective on shares of FedEx from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $281.60.
In other FedEx news, CEO Frederick W. Smith sold 124,000 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total value of $31,742,760.00. Following the completion of the transaction, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at approximately $3,805,154,395.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul S. Walsh sold 4,400 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the completion of the transaction, the director now directly owns 14,400 shares of the company’s stock, valued at $3,672,000. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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