State Treasurer State of Michigan decreased its stake in shares of FedEx Co. (NYSE:FDX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,412 shares of the shipping service provider’s stock after selling 3,100 shares during the period. State Treasurer State of Michigan’s holdings in FedEx were worth $11,198,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc lifted its holdings in shares of FedEx by 0.5% during the third quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after buying an additional 96,084 shares in the last quarter. Dodge & Cox lifted its holdings in FedEx by 20.0% during the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after purchasing an additional 2,065,853 shares in the last quarter. FMR LLC lifted its holdings in FedEx by 4.5% during the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock worth $1,040,600,000 after purchasing an additional 197,188 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in FedEx by 4.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 3,617,702 shares of the shipping service provider’s stock worth $871,106,000 after purchasing an additional 170,410 shares in the last quarter. Finally, Jackson Square Partners LLC raised its holdings in shares of FedEx by 0.6% in the 3rd quarter. Jackson Square Partners LLC now owns 2,643,463 shares of the shipping service provider’s stock valued at $636,519,000 after acquiring an additional 16,497 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.
A number of research analysts have recently commented on the company. Loop Capital lowered their target price on FedEx to $262.00 in a research note on Wednesday, December 19th. JPMorgan Chase & Co. restated a “buy” rating and issued a $256.00 price objective on shares of FedEx in a research report on Tuesday, December 18th. Deutsche Bank decreased their target price on FedEx from $293.00 to $212.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Zacks Investment Research raised FedEx from a “hold” rating to a “buy” rating and set a $226.00 price objective on the stock in a research note on Tuesday, December 11th. Finally, Citigroup cut their target price on FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $237.75.
FedEx stock traded up $1.25 during mid-day trading on Monday, reaching $178.49. 289,742 shares of the company were exchanged, compared to its average volume of 1,800,273. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. The firm has a market cap of $46.27 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.87 and a beta of 1.60. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $266.67.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the consensus estimate of $4.05 by ($0.02). FedEx had a net margin of 7.23% and a return on equity of 24.11%. The business had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $17.71 billion. During the same quarter in the prior year, the company posted $3.18 EPS. Equities analysts expect that FedEx Co. will post 15.92 earnings per share for the current year.
In other news, VP John L. Merino sold 2,300 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares in the company, valued at approximately $5,500,914.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner acquired 7,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were acquired at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the acquisition, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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