Foster & Motley Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 59.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,346 shares of the shipping service provider’s stock after selling 3,475 shares during the period. Foster & Motley Inc.’s holdings in FedEx were worth $426,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FDX. Oregon Public Employees Retirement Fund boosted its stake in FedEx by 15,104.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after buying an additional 13,970,642 shares in the last quarter. Norges Bank bought a new position in FedEx during the fourth quarter valued at about $303,958,000. LSV Asset Management boosted its stake in FedEx by 39.7% during the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after buying an additional 564,452 shares in the last quarter. Lakewood Capital Management LP boosted its stake in FedEx by 102.8% during the fourth quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock valued at $152,166,000 after buying an additional 478,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in FedEx by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock valued at $383,063,000 after buying an additional 418,451 shares in the last quarter. 70.48% of the stock is owned by institutional investors and hedge funds.
FDX has been the subject of several research reports. Berenberg Bank cut FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $245.00 to $200.00 in a research note on Monday, April 1st. UBS Group cut FedEx from a “neutral” rating to a “sell” rating and decreased their target price for the company from $171.00 to $161.00 in a research note on Friday, April 26th. JPMorgan Chase & Co. cut FedEx from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $227.00 to $202.00 in a research note on Wednesday, March 20th. Credit Suisse Group raised their target price on FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Cowen reaffirmed an “outperform” rating and set a $237.00 target price (down from $242.00) on shares of FedEx in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $212.33.
Shares of NYSE FDX opened at $159.93 on Friday. FedEx Co. has a 12 month low of $150.94 and a 12 month high of $266.67. The firm has a market cap of $41.67 billion, a PE ratio of 10.45, a P/E/G ratio of 0.85 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion for the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.72 earnings per share. On average, research analysts anticipate that FedEx Co. will post 15.44 earnings per share for the current fiscal year.
In related news, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the completion of the sale, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,650 shares of company stock valued at $34,751,470. Company insiders own 8.50% of the company’s stock.
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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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