Signature Financial Management Inc. cut its holdings in shares of FedEx Co. (NYSE:FDX) by 20.8% in the 1st quarter, Holdings Channel reports. The firm owned 1,421 shares of the shipping service provider’s stock after selling 373 shares during the period. Signature Financial Management Inc.’s holdings in FedEx were worth $341,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Buckingham Capital Management Inc. lifted its stake in FedEx by 9.1% during the third quarter. Buckingham Capital Management Inc. now owns 5,183 shares of the shipping service provider’s stock worth $1,169,000 after purchasing an additional 433 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of FedEx by 1.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 952,397 shares of the shipping service provider’s stock worth $237,662,000 after buying an additional 13,198 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of FedEx by 117.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,507 shares of the shipping service provider’s stock worth $625,000 after buying an additional 1,356 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of FedEx during the fourth quarter worth $125,000. Finally, Bfsg LLC acquired a new position in shares of FedEx during the fourth quarter worth $213,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.
FedEx opened at $251.74 on Friday, according to Marketbeat Ratings. The firm has a market capitalization of $67.10 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.30 and a beta of 1.39. FedEx Co. has a twelve month low of $191.93 and a twelve month high of $274.66. 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 (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 the Zacks’ consensus estimate of $3.11 by $0.61. The business had revenue of $16.53 billion during the quarter, compared to the consensus estimate of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. FedEx’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.35 earnings per share. sell-side analysts anticipate that FedEx Co. will post 15.13 EPS for the current fiscal year.
FDX has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating and set a $315.00 price target on shares of FedEx in a report on Monday, March 19th. Sanford C. Bernstein upgraded shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target for the company in a report on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating and set a $270.00 price target on shares of FedEx in a report on Monday, February 12th. KeyCorp upped their price target on shares of FedEx from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, March 21st. Finally, Zacks Investment Research downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and an average target price of $281.60.
In other FedEx 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 transaction of $1,122,000.00. Following the sale, the director now owns 14,400 shares of the company’s stock, valued at $3,672,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick W. Smith sold 124,000 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the sale, the chief executive officer now directly owns 14,864,465 shares in the company, 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 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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