Sompo Japan Nipponkoa Asset Management CO. LTD. lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 12.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,290 shares of the shipping service provider’s stock after selling 740 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in FedEx were worth $1,274,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Palo Capital Inc. acquired a new stake in FedEx during the third quarter worth approximately $108,000. Vigilant Capital Management LLC acquired a new stake in FedEx during the second quarter worth approximately $114,000. Moneta Group Investment Advisors LLC lifted its position in FedEx by 14,117.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after acquiring an additional 63,386 shares during the last quarter. Fortis Advisors LLC lifted its position in FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after acquiring an additional 370 shares during the last quarter. Finally, Lenox Wealth Advisors LLC acquired a new stake in FedEx during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 72.79% of the company’s stock.
In other news, Director Susan Patricia Griffith acquired 1,000 shares of the stock in a transaction on Wednesday, October 17th. The stock was acquired at an average cost of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Morgan Stanley set a $240.00 price target on shares of FedEx and gave the company a “hold” rating in a research report on Monday, October 22nd. UBS Group downgraded shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target for the company. in a research report on Monday, July 16th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $305.00 price target on shares of FedEx in a research report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price target on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $284.86.
NYSE FDX opened at $224.40 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26. FedEx Co. has a 1-year low of $207.90 and a 1-year high of $274.66. The company has a market capitalization of $60.95 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.36.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 17.35 earnings per share for the current year.
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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