Jacobs & Co. CA boosted its holdings in FedEx Co. (NYSE:FDX) by 37.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,548 shares of the shipping service provider’s stock after acquiring an additional 3,933 shares during the quarter. Jacobs & Co. CA’s holdings in FedEx were worth $2,388,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its holdings in FedEx by 1.4% during the 1st quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock worth $525,728,000 after buying an additional 38,692 shares during the period. Greenhaven Associates Inc. raised its holdings in FedEx by 0.7% during the 1st quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock worth $498,872,000 after buying an additional 20,450 shares during the period. Geode Capital Management LLC raised its holdings in FedEx by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after buying an additional 185,252 shares during the period. Artisan Partners Limited Partnership raised its holdings in FedEx by 40.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after buying an additional 792,575 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in FedEx by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after buying an additional 418,451 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.
Several research firms have issued reports on FDX. Credit Suisse Group cut their price objective on FedEx from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Barclays restated a “buy” rating and set a $185.00 price objective on shares of FedEx in a report on Thursday, June 13th. Deutsche Bank reiterated a “buy” rating on shares of FedEx in a report on Wednesday, June 26th. Raymond James dropped their target price on FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Finally, Cowen reiterated an “outperform” rating and issued a $228.00 target price (down previously from $230.00) on shares of FedEx in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $191.63.
Shares of NYSE FDX traded down $4.11 during trading hours on Wednesday, hitting $156.41. The stock had a trading volume of 250,687 shares, compared to its average volume of 2,117,675. The firm has a market capitalization of $42.28 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.88 and a beta of 1.65. The company’s 50-day moving average price is $165.17. FedEx Co. has a 52 week low of $150.68 and a 52 week high of $259.25. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. The business had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.91 EPS. Equities research analysts anticipate that FedEx Co. will post 14.61 earnings per share for the current fiscal year.
In other FedEx news, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.
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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