Nvwm LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 88.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230 shares of the shipping service provider’s stock after selling 1,790 shares during the period. Nvwm LLC’s holdings in FedEx were worth $28,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Capital Investment Advisors LLC bought a new position in FedEx during the 4th quarter worth $277,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of FedEx by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,995 shares of the shipping service provider’s stock valued at $10,584,000 after acquiring an additional 3,338 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of FedEx by 32.0% during the fourth quarter. Wealthfront Advisers LLC now owns 6,923 shares of the shipping service provider’s stock valued at $1,047,000 after acquiring an additional 1,678 shares during the period. SeaCrest Wealth Management LLC grew its position in shares of FedEx by 23.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 2,119 shares of the shipping service provider’s stock worth $320,000 after acquiring an additional 400 shares during the last quarter. Finally, Rothschild Investment Corp IL increased its holdings in shares of FedEx by 135.3% in the 4th quarter. Rothschild Investment Corp IL now owns 8,025 shares of the shipping service provider’s stock worth $1,213,000 after acquiring an additional 4,615 shares during the period. 72.37% of the stock is owned by institutional investors and hedge funds.
FDX has been the topic of several analyst reports. Credit Suisse Group lowered their target price on FedEx from $159.00 to $121.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 18th. Citigroup lowered their price target on FedEx from $180.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating and set a $135.00 target price for the company. in a research report on Tuesday, April 28th. Stifel Nicolaus dropped their price target on shares of FedEx from $136.00 to $120.00 in a research report on Wednesday, March 18th. Finally, BMO Capital Markets decreased their price objective on shares of FedEx from $150.00 to $115.00 and set a “market perform” rating for the company in a report on Wednesday, March 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $148.00.
In other news, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $117.71, for a total value of $18,333,332.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John A. Edwardson purchased 5,000 shares of FedEx stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $111.06 per share, with a total value of $555,300.00. Following the completion of the transaction, the director now directly owns 82,966 shares of the company’s stock, valued at $9,214,203.96. The disclosure for this purchase can be found here. 8.44% of the stock is owned by corporate insiders.
Shares of FDX traded up $0.02 during midday trading on Friday, hitting $115.79. The stock had a trading volume of 236,455 shares, compared to its average volume of 2,391,708. The business has a 50-day simple moving average of $118.80 and a two-hundred day simple moving average of $140.90. The firm has a market cap of $30.24 billion, a P/E ratio of -83.29, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. FedEx Co. has a fifty-two week low of $88.69 and a fifty-two week high of $178.50.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 17th. The shipping service provider reported $1.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.41. FedEx had a negative net margin of 0.50% and a positive return on equity of 17.05%. The business had revenue of $17.49 billion during the quarter, compared to the consensus estimate of $16.89 billion. During the same quarter in the prior year, the firm earned $3.03 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that FedEx Co. will post 9.07 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.
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