Beck Mack & Oliver LLC cut its stake in FedEx Co. (NYSE:FDX) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,713 shares of the shipping service provider’s stock after selling 1,785 shares during the period. Beck Mack & Oliver LLC’s holdings in FedEx were worth $14,957,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Northwest Wealth Management LLC increased its stake in shares of 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 purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of FedEx by 1,666.7% during the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of FedEx by 17.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock worth $68,000 after purchasing an additional 63 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of FedEx by 101.8% during the 4th quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 223 shares in the last quarter. Finally, Legacy Bridge LLC purchased a new position in shares of FedEx during the 4th quarter worth approximately $76,000. 77.98% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Berenberg Bank reissued a “buy” rating and set a $245.00 price objective on shares of FedEx in a research note on Monday, January 7th. Zacks Investment Research reissued a “strong sell” rating on shares of FedEx in a research note on Monday, December 31st. JPMorgan Chase & Co. set a $233.00 price objective on shares of FedEx and gave the stock a “buy” rating in a research note on Monday, December 31st. Finally, ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $237.75.
In other FedEx news, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction on Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now owns 30,185 shares in the company, valued at approximately $5,500,914.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David P. Steiner purchased 7,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was bought at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the acquisition, the director now owns 25,994 shares in the company, valued at $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is owned by company insiders.
Shares of NYSE FDX opened at $185.62 on Thursday. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $266.67. The company has a market cap of $48.61 billion, a P/E ratio of 12.12, a PEG ratio of 0.87 and a beta of 1.60. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The firm had revenue of $17.82 billion for the quarter, compared to analyst estimates of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter last year, the business posted $3.18 EPS. Sell-side analysts anticipate that FedEx Co. will post 15.92 earnings per share for the current year.
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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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