BancorpSouth Bank lifted its position in FedEx Co. (NYSE:FDX) by 42.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,655 shares of the shipping service provider’s stock after buying an additional 7,973 shares during the quarter. FedEx comprises approximately 0.5% of BancorpSouth Bank’s holdings, making the stock its 29th largest position. BancorpSouth Bank’s holdings in FedEx were worth $4,835,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Creative Planning increased its position in FedEx by 16.0% during the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock worth $5,723,000 after acquiring an additional 4,901 shares during the period. Voit & Company LLC bought a new position in FedEx during the fourth quarter worth $2,175,000. Tower Bridge Advisors increased its position in FedEx by 5.1% during the fourth quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock worth $12,236,000 after acquiring an additional 3,686 shares during the period. Focused Investors LLC bought a new position in FedEx during the fourth quarter worth $66,774,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in FedEx in the 1st quarter valued at $322,000. Institutional investors and hedge funds own 71.72% of the company’s stock.
FDX opened at $178.00 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. FedEx Co. has a twelve month low of $150.94 and a twelve month high of $266.67. The stock has a market capitalization of $46.79 billion, a PE ratio of 11.63, a PEG ratio of 0.91 and a beta of 1.62.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The firm had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the company posted $3.72 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that FedEx Co. will post 15.44 earnings per share for the current year.
In other news, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,650 shares of company stock worth $34,751,470. 8.50% of the stock is owned by insiders.
FDX has been the topic of several analyst reports. UBS Group lowered shares of FedEx from a “neutral” rating to a “sell” rating and lowered their price target for the company from $171.00 to $161.00 in a report on Friday, April 26th. Morgan Stanley lowered their price target on shares of FedEx from $156.00 to $148.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 20th. Credit Suisse Group reissued a “buy” rating and issued a $241.00 price target on shares of FedEx in a report on Monday, April 1st. Cowen reissued an “outperform” rating and issued a $237.00 price target (down previously from $242.00) on shares of FedEx in a report on Thursday, March 14th. Finally, Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $212.33.
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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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