Sentry Investment Management LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 34.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,718 shares of the shipping service provider’s stock after selling 5,662 shares during the period. Sentry Investment Management LLC’s holdings in FedEx were worth $2,581,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Palo Capital Inc. bought a new stake in shares of FedEx in the third quarter worth $108,000. Vigilant Capital Management LLC bought a new stake in shares of FedEx in the second quarter worth $114,000. Moneta Group Investment Advisors LLC grew its stake in shares of FedEx by 14,117.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after purchasing an additional 63,386 shares during the last quarter. Fortis Advisors LLC grew its stake in shares of FedEx by 278.2% in the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after purchasing an additional 370 shares during the last quarter. Finally, Lenox Wealth Advisors LLC bought a new stake in shares of FedEx in the third quarter worth $120,000. Institutional investors and hedge funds own 72.79% of the company’s stock.
In other news, Director Susan Patricia Griffith purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were acquired at an average price of $225.16 per share, with a total value of $225,160.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the transaction, the director now owns 32,800 shares in the company, valued at approximately $7,949,080. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
Several analysts recently weighed in on FDX shares. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Morgan Stanley set a $240.00 price objective on shares of FedEx and gave the stock a “hold” rating in a research note on Monday, October 22nd. Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $305.00 price objective on shares of FedEx in a research note on Tuesday, September 18th. Finally, Citigroup reduced their price objective on shares of FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $284.86.
Shares of FDX opened at $224.40 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79. The firm has a market cap of $60.95 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.05 and a beta of 1.36. FedEx Co. has a 12 month low of $207.90 and a 12 month high of $274.66.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $2.65 EPS. As a group, sell-side analysts predict that FedEx Co. will post 17.35 EPS for the current year.
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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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