Private Advisor Group LLC Decreases Holdings in FedEx (FDX)

Private Advisor Group LLC cut its stake in shares of FedEx (NYSE:FDX) by 46.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,281 shares of the shipping service provider’s stock after selling 6,268 shares during the period. Private Advisor Group LLC’s holdings in FedEx were worth $1,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FDX. Jennison Associates LLC raised its stake in FedEx by 47.4% during the 4th quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after buying an additional 1,185,447 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in FedEx by 132.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,065,242 shares of the shipping service provider’s stock valued at $265,820,000 after buying an additional 607,585 shares during the last quarter. Fred Alger Management Inc. purchased a new stake in FedEx during the 4th quarter valued at $124,920,000. 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 valued at $171,476,000 after buying an additional 351,909 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in FedEx by 138.0% during the 4th quarter. American Century Companies Inc. now owns 592,730 shares of the shipping service provider’s stock valued at $147,910,000 after buying an additional 343,735 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.

FDX has been the subject of a number of research reports. Robert W. Baird reiterated a “buy” rating and set a $270.00 target price on shares of FedEx in a research note on Monday, February 12th. Sanford C. Bernstein upgraded shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 target price for the company in a research note on Friday, February 23rd. Oppenheimer boosted their target price on shares of FedEx from $265.00 to $274.00 and gave the company an “outperform” rating in a research note on Friday, March 16th. Zacks Investment Research lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Finally, KeyCorp boosted their target price 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 assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $281.60.

Shares of FedEx stock opened at $254.66 on Tuesday. The firm has a market capitalization of $66.83 billion, a P/E ratio of 20.70, a PEG ratio of 1.29 and a beta of 1.39. The company has a quick ratio of 1.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. FedEx has a fifty-two week low of $189.44 and a fifty-two week high of $274.66.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.61. The company had revenue of $16.53 billion during the quarter, compared to the consensus estimate of $16.17 billion. FedEx had a net margin of 6.99% and a return on equity of 21.65%. FedEx’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. sell-side analysts forecast that FedEx will post 15.13 EPS for the current year.

In related news, Director Paul S. Walsh sold 4,400 shares of the company’s 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 transaction, the director now owns 14,400 shares of the company’s stock, valued at approximately $3,672,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frederick W. Smith sold 124,000 shares of the company’s 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 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 disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.

FedEx Company Profile

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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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