MV Capital Management Inc. boosted its stake in FedEx (NYSE:FDX) by 136.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,425 shares of the shipping service provider’s stock after acquiring an additional 1,400 shares during the quarter. MV Capital Management Inc.’s holdings in FedEx were worth $582,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in FDX. Cerebellum GP LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $125,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in FedEx in the fourth quarter valued at approximately $144,000. We Are One Seven LLC acquired a new position in FedEx during the fourth quarter valued at approximately $148,000. Centaurus Financial Inc. acquired a new position in FedEx during the first quarter valued at approximately $156,000. Finally, Noesis Capital Mangement Corp acquired a new position in FedEx during the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.
NYSE FDX opened at $254.66 on Tuesday. FedEx has a 52 week low of $189.44 and a 52 week high of $274.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.37 and a current ratio of 1.43. The firm has a market cap of $66.83 billion, a PE ratio of 20.70, a PEG ratio of 1.29 and a beta of 1.39.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The business had revenue of $16.53 billion for the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities research analysts anticipate that FedEx will post 15.13 earnings per share for the current year.
FDX has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “buy” rating and set a $270.00 price target on shares of FedEx in a research report on Monday, February 12th. Sanford C. Bernstein raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target on the stock in a research report on Friday, February 23rd. Oppenheimer lifted their price target on shares of FedEx from $265.00 to $274.00 and gave the company an “outperform” rating in a research report on Friday, March 16th. Zacks Investment Research cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Finally, KeyCorp lifted their price target on shares of FedEx from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $281.60.
In related news, Director Paul S. Walsh sold 4,400 shares of FedEx stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total value of $1,122,000.00. Following the completion of the sale, the director now owns 14,400 shares in the company, valued at $3,672,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick W. Smith sold 124,000 shares of FedEx stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the completion of the sale, the chief executive officer now owns 14,864,465 shares of the company’s stock, valued at approximately $3,805,154,395.35. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by insiders.
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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