Redmond Asset Management LLC Sells 234 Shares of FedEx Co. (NYSE:FDX)

Redmond Asset Management LLC lessened its position in FedEx Co. (NYSE:FDX) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,658 shares of the shipping service provider’s stock after selling 234 shares during the period. Redmond Asset Management LLC’s holdings in FedEx were worth $1,257,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Sageworth Trust Co acquired a new position in FedEx during the second quarter worth $25,000. Covenant Multifamily Offices LLC acquired a new position in FedEx during the first quarter worth $29,000. Evolution Wealth Advisors LLC acquired a new position in FedEx during the first quarter worth $31,000. Endurance Wealth Management Inc. boosted 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 purchasing an additional 150 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC acquired a new position in FedEx during the second quarter worth $34,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

FDX has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $205.00 price target on shares of FedEx and gave the company a “buy” rating in a research note on Thursday, June 20th. ValuEngine cut shares of FedEx from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Loop Capital cut their price target on shares of FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Raymond James cut their price target on shares of FedEx from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. Finally, Oppenheimer cut their price target on shares of FedEx from $192.00 to $176.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $191.63.

Shares of FDX traded down $2.04 during trading hours on Thursday, hitting $153.02. The company had a trading volume of 65,429 shares, compared to its average volume of 2,135,324. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.86 and a beta of 1.65. The stock has a fifty day moving average price of $165.14. FedEx Co. has a 12 month low of $150.68 and a 12 month high of $259.25. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion for the quarter, compared to analyst estimates of $17.85 billion. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.91 earnings per share. On average, sell-side analysts forecast 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 stock in a transaction dated 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 $12,031,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction dated Thursday, July 11th. The stock was 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 in the company, valued at $2,661,307.20. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

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.

Read More: Return on Investment (ROI) Defined, Explained

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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