Hudson Valley Investment Advisors Inc. ADV grew its stake in FedEx Co. (NYSE:FDX) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,115 shares of the shipping service provider’s stock after buying an additional 247 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in FedEx were worth $1,825,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in FDX. Artisan Partners Limited Partnership lifted its stake in shares of FedEx by 40.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock worth $497,162,000 after purchasing an additional 792,575 shares during the period. Nordea Investment Management AB grew its stake in shares of FedEx by 63.5% during the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock worth $280,985,000 after acquiring an additional 601,465 shares during the last quarter. LSV Asset Management boosted its position in FedEx by 39.7% in the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after buying an additional 564,452 shares during the last quarter. Packer & Co Ltd lifted its holdings in FedEx by 269.9% in the second quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock valued at $29,289,000 after acquiring an additional 481,416 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of FedEx by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after buying an additional 418,451 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
Shares of FDX stock opened at $152.82 on Friday. The business’s 50 day moving average is $165.00 and its two-hundred day moving average is $173.94. FedEx Co. has a twelve month low of $150.68 and a twelve month high of $259.25. The company has a market capitalization of $41.86 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion for the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $5.91 EPS. As a group, equities analysts predict that FedEx Co. will post 14.61 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. TheStreet downgraded FedEx from a “b-” rating to a “c+” rating in a research note on Thursday, June 6th. KeyCorp reduced their price objective on FedEx from $215.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Credit Suisse Group reduced their price objective on FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. UBS Group set a $136.00 target price on FedEx and gave the company a “sell” rating in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their target price on FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $191.63.
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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