Royal Fund Management LLC bought a new position in FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 316 shares of the shipping service provider’s stock, valued at approximately $38,000.
Other large investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems increased its position in FedEx by 0.4% in the fourth quarter. Utah Retirement Systems now owns 45,987 shares of the shipping service provider’s stock worth $6,953,000 after buying an additional 200 shares during the last quarter. Watchman Group Inc. bought a new position in shares of FedEx in the fourth quarter worth $2,310,000. Sailer Financial LLC bought a new position in shares of FedEx in the fourth quarter worth $353,000. Brighton Jones LLC boosted its holdings in shares of FedEx by 4.4% in the fourth quarter. Brighton Jones LLC now owns 1,635 shares of the shipping service provider’s stock worth $247,000 after acquiring an additional 69 shares during the period. Finally, Dupont Capital Management Corp boosted its holdings in shares of FedEx by 35.0% in the fourth quarter. Dupont Capital Management Corp now owns 6,479 shares of the shipping service provider’s stock worth $980,000 after acquiring an additional 1,679 shares during the period. 72.37% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. Morgan Stanley cut their price target on FedEx from $109.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Citigroup cut their price target on FedEx from $180.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Credit Suisse Group cut their price target on FedEx from $159.00 to $121.00 and set an “outperform” rating for the company in a report on Wednesday, March 18th. Cowen cut their price target on FedEx from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Finally, Stifel Nicolaus dropped their price objective on FedEx from $136.00 to $120.00 in a research note on Wednesday, March 18th. 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. FedEx presently has an average rating of “Hold” and a consensus target price of $148.00.
Shares of FDX stock opened at $117.00 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.66. The business has a 50-day moving average price of $118.69 and a two-hundred day moving average price of $140.72. FedEx Co. has a 12-month low of $88.69 and a 12-month high of $178.50. The firm has a market cap of $30.24 billion, a P/E ratio of -84.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.32.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 17th. The shipping service provider reported $1.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. The firm had revenue of $17.49 billion during the quarter, compared to analyst estimates of $16.89 billion. During the same quarter in the previous year, the company posted $3.03 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that FedEx Co. will post 9.07 EPS for the current fiscal year.
In other news, EVP Alan B. Graf, Jr. sold 18,829 shares of FedEx stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $110.49, for a total value of $2,080,416.21. Following the transaction, the executive vice president now owns 201,050 shares in the company, valued at $22,214,014.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Edwardson acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $111.06 per share, for a total transaction of $555,300.00. Following the acquisition, the director now owns 82,966 shares of the company’s stock, valued at approximately $9,214,203.96. The disclosure for this purchase can be found here. 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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