Willingdon Wealth Management raised its holdings in FedEx Co. (NYSE:FDX) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 20,604 shares of the shipping service provider’s stock after acquiring an additional 850 shares during the period. Willingdon Wealth Management’s holdings in FedEx were worth $3,383,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Sageworth Trust Co bought a new stake in FedEx during the second quarter worth about $25,000. Covenant Multifamily Offices LLC bought a new stake in FedEx during the first quarter worth about $29,000. Evolution Wealth Advisors LLC bought a new stake in FedEx during the first quarter worth about $31,000. Endurance Wealth Management Inc. raised its holdings in FedEx by 375.0% during the first quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC bought a new stake in FedEx during the second quarter worth about $34,000. 68.64% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:FDX traded up $1.72 during mid-day trading on Tuesday, reaching $160.53. The company had a trading volume of 148,672 shares, compared to its average volume of 2,191,042. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $42.28 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.88 and a beta of 1.65. The company has a 50-day simple moving average of $165.17. FedEx Co. has a one year low of $150.68 and a one year high of $259.25.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The company had revenue of $17.81 billion for the quarter, compared to analysts’ expectations of $17.85 billion. During the same quarter in the previous year, the firm posted $5.91 EPS. FedEx’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 14.61 EPS for the current fiscal year.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the sale, the director now owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
Several research firms recently issued reports on FDX. TheStreet lowered FedEx from a “b-” rating to a “c+” rating in a report on Thursday, June 6th. Bank of America dropped their price objective on FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. ValuEngine lowered FedEx from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Cowen restated an “outperform” rating and issued a $228.00 price objective (down previously from $230.00) on shares of FedEx in a research note on Thursday, June 20th. Finally, Citigroup dropped their price objective on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $191.63.
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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