Haverford Financial Services Inc. decreased its position in shares of FedEx Co. (NYSE:FDX) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,660 shares of the shipping service provider’s stock after selling 633 shares during the period. FedEx comprises 2.5% of Haverford Financial Services Inc.’s investment portfolio, making the stock its 17th biggest position. Haverford Financial Services Inc.’s holdings in FedEx were worth $7,375,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Parnassus Investments CA lifted its stake in FedEx by 2,614.2% during the 2nd quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock worth $574,644,000 after acquiring an additional 3,370,929 shares in the last quarter. BlackRock Inc. raised its position in FedEx by 9.5% in the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after purchasing an additional 1,395,988 shares in the last quarter. Nuveen Asset Management LLC raised its position in FedEx by 11,911.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock valued at $183,645,000 after purchasing an additional 1,109,177 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in FedEx in the 2nd quarter valued at about $84,956,000. Finally, Packer & Co Ltd raised its position in FedEx by 269.9% in the 2nd quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock valued at $29,289,000 after purchasing an additional 481,416 shares in the last quarter. 71.33% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:FDX traded down $0.70 during mid-day trading on Friday, reaching $163.22. 1,118,864 shares of the stock were exchanged, compared to its average volume of 2,585,977. The company has a 50 day simple moving average of $149.96 and a 200-day simple moving average of $162.42. The stock has a market capitalization of $43.01 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.13 and a beta of 1.72. The company has a quick ratio of 1.25, a current ratio of 1.31 and a debt-to-equity ratio of 1.70. FedEx Co. has a 1 year low of $137.78 and a 1 year high of $234.49.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.12). The firm had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $17.05 billion. FedEx had a return on equity of 21.15% and a net margin of 0.65%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 EPS. As a group, research analysts predict that FedEx Co. will post 12.11 EPS for the current year.
In related news, Director R Brad Martin bought 1,000 shares of the stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $145.00 per share, for a total transaction of $145,000.00. Following the purchase, the director now owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John A. Edwardson bought 5,000 shares of the stock in a transaction on Thursday, October 31st. The stock was bought at an average price of $151.75 per share, for a total transaction of $758,750.00. Following the completion of the purchase, the director now directly owns 62,966 shares in the company, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. Company insiders own 8.44% of the company’s stock.
FDX has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on FedEx from $131.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Credit Suisse Group reduced their price target on FedEx from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Loop Capital reduced their price target on FedEx to $200.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Co initiated coverage on FedEx in a research report on Monday, October 28th. They issued an “outperform” rating and a $189.00 price target on the stock. Finally, Raymond James reduced their price target on FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $170.40.
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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