Investment House LLC increased its holdings in FedEx Co. (NYSE:FDX) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 69,637 shares of the shipping service provider’s stock after buying an additional 1,230 shares during the quarter. FedEx makes up 1.4% of Investment House LLC’s holdings, making the stock its 22nd biggest holding. Investment House LLC’s holdings in FedEx were worth $12,633,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cordasco Financial Network increased its stake in FedEx by 181.8% during the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Covenant Multifamily Offices LLC purchased a new stake in FedEx during the 1st quarter worth approximately $29,000. Berman Capital Advisors LLC purchased a new stake in FedEx during the 4th quarter worth approximately $25,000. Northwest Wealth Management LLC increased its stake in FedEx by 842.1% during the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after buying an additional 160 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC increased its stake in FedEx by 52.5% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after buying an additional 63 shares in the last quarter. 71.68% of the stock is owned by institutional investors.
Shares of FedEx stock opened at $171.86 on Thursday. The company has a market capitalization of $44.96 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 0.88 and a beta of 1.62. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.72 earnings per share. Equities research analysts predict that FedEx Co. will post 15.44 EPS for the current year.
In other FedEx news, Director Susan C. Schwab sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders sold 185,650 shares of company stock valued at $34,751,470 over the last quarter. 8.50% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on FDX shares. Cowen restated an “outperform” rating and issued a $237.00 price target (down from $242.00) on shares of FedEx in a research report on Thursday, March 14th. Wells Fargo & Co dropped their price target on FedEx from $285.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. UBS Group lowered FedEx from a “neutral” rating to a “sell” rating and dropped their price target for the company from $171.00 to $161.00 in a research report on Friday, April 26th. BMO Capital Markets dropped their price target on FedEx to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Finally, Raymond James dropped their price target on FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $212.33.
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FedEx Company Profile
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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