Barry Investment Advisors LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,198 shares of the shipping service provider’s stock after selling 1,183 shares during the period. FedEx comprises 2.1% of Barry Investment Advisors LLC’s portfolio, making the stock its 22nd largest holding. Barry Investment Advisors LLC’s holdings in FedEx were worth $5,852,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of FDX. Parnassus Investments CA lifted its position in FedEx by 2,614.2% during the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock valued at $574,644,000 after purchasing an additional 3,370,929 shares during the period. BlackRock Inc. raised its position in FedEx by 9.5% in the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after acquiring an additional 1,395,988 shares during the period. Nuveen Asset Management LLC raised its position in FedEx by 11,911.3% in the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock worth $183,645,000 after acquiring an additional 1,109,177 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in FedEx in the second quarter worth approximately $84,956,000. Finally, Packer & Co Ltd raised its position in FedEx by 269.9% in the second quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock worth $29,289,000 after acquiring an additional 481,416 shares during the period. Institutional investors own 71.33% of the company’s stock.
FDX has been the topic of several recent research reports. UBS Group decreased their price target on shares of FedEx from $136.00 to $132.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $190.00 to $165.00 in a research report on Wednesday, September 18th. Wells Fargo & Co initiated coverage on shares of FedEx in a research report on Monday, October 28th. They issued an “outperform” rating and a $189.00 price target on the stock. Wolfe Research set a $184.00 price target on shares of FedEx and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 price target on the stock. in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. FedEx presently has an average rating of “Hold” and an average price target of $170.40.
In other news, Director R Brad Martin acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $145.00 per share, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 49,046 shares of the company’s stock, valued at $7,111,670. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Edwardson acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were purchased at an average price of $151.75 per share, for a total transaction of $758,750.00. Following the completion of the transaction, the director now directly owns 62,966 shares in the company, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is owned by company insiders.
Shares of FDX stock opened at $163.22 on Friday. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.13 and a beta of 1.72. FedEx Co. has a one year low of $137.78 and a one year high of $234.49. The company’s fifty day moving average price is $150.20 and its 200-day moving average price is $162.24. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. FedEx had a net margin of 0.65% and a return on equity of 21.15%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 earnings per share. Equities research analysts expect that FedEx Co. will post 12.11 earnings per share for the current fiscal year.
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.
Recommended Story: Day Trading
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.