Keybank National Association OH Sells 4,698 Shares of FedEx Co. (NYSE:FDX)

Keybank National Association OH cut its holdings in FedEx Co. (NYSE:FDX) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,179 shares of the shipping service provider’s stock after selling 4,698 shares during the period. Keybank National Association OH’s holdings in FedEx were worth $5,121,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. raised its position in FedEx by 4.0% in the second quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock worth $273,000 after purchasing an additional 64 shares in the last quarter. Alpha Windward LLC raised its position in FedEx by 7.5% in the second quarter. Alpha Windward LLC now owns 977 shares of the shipping service provider’s stock worth $169,000 after purchasing an additional 68 shares in the last quarter. First Personal Financial Services raised its position in FedEx by 6.7% in the third quarter. First Personal Financial Services now owns 1,080 shares of the shipping service provider’s stock worth $157,000 after purchasing an additional 68 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in FedEx by 2.6% in the second quarter. FinTrust Capital Advisors LLC now owns 2,780 shares of the shipping service provider’s stock worth $457,000 after purchasing an additional 70 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC raised its position in FedEx by 2.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 2,701 shares of the shipping service provider’s stock worth $443,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 71.33% of the company’s stock.

In related news, Director R Brad Martin purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $145.00 per share, with a total value of $145,000.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Edwardson purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were bought at an average cost 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 of the company’s stock, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is owned by corporate insiders.

Several research firms recently issued reports on FDX. 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. JPMorgan Chase & Co. set a $140.00 price objective on shares of FedEx and gave the stock a “neutral” rating in a report on Friday, October 4th. Edward Jones lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Loop Capital dropped their price objective on shares of FedEx to $200.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Finally, Berenberg Bank set a $155.00 price objective on shares of FedEx and gave the stock a “hold” rating in a report on Friday, October 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $170.40.

Shares of FDX traded down $0.70 during mid-day trading on Friday, hitting $163.22. 1,107,077 shares of the company traded hands, compared to its average volume of 2,585,977. FedEx Co. has a one year low of $137.78 and a one year high of $234.49. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The business has a 50-day moving average of $150.20 and a 200 day moving average of $162.24. The stock 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 (NYSE:FDX) last released its quarterly earnings results 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). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the company earned $3.46 earnings per share. FedEx’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 12.11 earnings per share for the current year.

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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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