Flippin Bruce & Porter Inc. reduced its stake in FedEx Co. (NYSE:FDX) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,494 shares of the shipping service provider’s stock after selling 800 shares during the period. Flippin Bruce & Porter Inc.’s holdings in FedEx were worth $2,401,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Sageworth Trust Co acquired a new stake in shares of FedEx in the second quarter valued at approximately $25,000. CX Institutional acquired a new stake in shares of FedEx in the third quarter valued at approximately $29,000. Accurate Investment Solutions Inc. boosted its holdings in shares of FedEx by 125.0% in the third quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of FedEx in the third quarter valued at approximately $33,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $34,000. Institutional investors own 71.33% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Oppenheimer decreased their price objective on FedEx from $176.00 to $167.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Co assumed coverage on FedEx in a report on Monday, October 28th. They issued an “outperform” rating and a $189.00 price objective for the company. Cowen decreased their price objective on FedEx from $206.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Loop Capital decreased their price objective on FedEx to $200.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Edward Jones downgraded FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. FedEx has a consensus rating of “Hold” and an average target price of $170.40.
NYSE:FDX traded down $0.70 during trading hours on Friday, hitting $163.22. The company’s stock had a trading volume of 1,152,502 shares, compared to its average volume of 2,585,977. The business’s 50-day moving average is $150.20 and its two-hundred day moving average is $162.24. The company has a market capitalization of $43.01 billion, a PE ratio of 10.52, a PEG ratio of 1.13 and a beta of 1.72. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. FedEx Co. has a 52-week low of $137.78 and a 52-week high of $234.49.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). The business had revenue of $17.05 billion during 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 revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.46 EPS. As a group, analysts predict that FedEx Co. will post 12.11 EPS for the current fiscal year.
In other FedEx news, Director R Brad Martin acquired 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Edwardson acquired 5,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was acquired at an average price of $151.75 per share, with a total value of $758,750.00. Following the transaction, the director now directly owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. Corporate insiders own 8.44% of the company’s stock.
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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