Heritage Investors Management Corp increased its holdings in shares of FedEx Co. (NYSE:FDX) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,316 shares of the shipping service provider’s stock after buying an additional 2,012 shares during the period. Heritage Investors Management Corp’s holdings in FedEx were worth $15,487,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. D.B. Root & Company LLC increased its position in shares of FedEx by 7.6% in the 2nd quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock valued at $673,000 after purchasing an additional 210 shares during the last quarter. Advisory Services Network LLC increased its position in shares of FedEx by 4.6% in the 2nd quarter. Advisory Services Network LLC now owns 5,237 shares of the shipping service provider’s stock valued at $1,263,000 after purchasing an additional 230 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of FedEx by 10.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,422 shares of the shipping service provider’s stock valued at $583,000 after purchasing an additional 233 shares during the last quarter. Nwam LLC increased its position in shares of FedEx by 13.4% in the 3rd quarter. Nwam LLC now owns 2,012 shares of the shipping service provider’s stock valued at $484,000 after purchasing an additional 237 shares during the last quarter. Finally, Murphy Capital Management Inc. increased its position in shares of FedEx by 1.3% in the 2nd quarter. Murphy Capital Management Inc. now owns 18,844 shares of the shipping service provider’s stock valued at $4,278,000 after purchasing an additional 240 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares in the company, valued at approximately $7,949,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Patricia Griffith bought 1,000 shares of FedEx stock in a transaction dated Wednesday, October 17th. The stock was purchased at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. 8.45% of the stock is owned by corporate insiders.
FDX has been the subject of several research analyst reports. Morgan Stanley restated a “hold” rating and issued a $242.00 target price (down previously from $245.00) on shares of FedEx in a report on Tuesday, September 18th. Berenberg Bank initiated coverage on shares of FedEx in a report on Friday, September 21st. They issued a “buy” rating and a $300.00 target price for the company. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. JPMorgan Chase & Co. restated a “buy” rating and issued a $305.00 target price on shares of FedEx in a report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $284.86.
Shares of NYSE:FDX opened at $224.40 on Friday. The firm has a market cap of $60.95 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.36. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. FedEx Co. has a 1-year low of $207.90 and a 1-year high of $274.66.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). The business had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.65 EPS. As a group, research analysts expect that FedEx Co. will post 17.35 earnings per share for the current fiscal 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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