Dean Investment Associates LLC trimmed its position in FedEx (NYSE:FDX) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,497 shares of the shipping service provider’s stock after selling 3,044 shares during the quarter. Dean Investment Associates LLC’s holdings in FedEx were worth $5,402,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. lifted its stake in shares of FedEx by 136.6% during the 1st quarter. MV Capital Management Inc. now owns 2,425 shares of the shipping service provider’s stock worth $582,000 after purchasing an additional 1,400 shares during the last quarter. Haverford Trust Co. lifted its stake in shares of FedEx by 11,006.7% during the 1st quarter. Haverford Trust Co. now owns 214,360 shares of the shipping service provider’s stock worth $51,470,000 after purchasing an additional 212,430 shares during the last quarter. Chatham Capital Group Inc. lifted its stake in shares of FedEx by 5.4% during the 1st quarter. Chatham Capital Group Inc. now owns 12,768 shares of the shipping service provider’s stock worth $3,066,000 after purchasing an additional 650 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of FedEx during the 1st quarter worth $29,081,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of FedEx by 13.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,904 shares of the shipping service provider’s stock worth $4,779,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
Shares of FedEx opened at $252.59 on Wednesday, Marketbeat Ratings reports. FedEx has a 1 year low of $190.93 and a 1 year high of $274.66. The stock has a market cap of $68.22 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.32 and a beta of 1.39. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.85.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.61. The business had revenue of $16.53 billion for the quarter, compared to analyst estimates of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.35 earnings per share. research analysts expect that FedEx will post 15.13 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. KeyCorp upped their price objective on FedEx from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. Stephens set a $306.00 price objective on FedEx and gave the stock a “buy” rating in a research note on Wednesday, March 21st. Stifel Nicolaus upgraded FedEx from a “hold” rating to a “buy” rating and upped their price objective for the stock from $284.00 to $295.00 in a research note on Wednesday, March 21st. Finally, JPMorgan Chase restated a “buy” rating and set a $315.00 price objective on shares of FedEx in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $281.60.
In other news, CEO Frederick W. Smith sold 124,000 shares of the stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total value of $31,742,760.00. Following the transaction, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at $3,805,154,395.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,400 shares of the stock in a transaction dated 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 directly owns 14,400 shares in the company, valued at $3,672,000. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by corporate insiders.
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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