WT Wealth Management boosted its stake in FedEx Co. (NYSE:FDX) by 95.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,413 shares of the shipping service provider’s stock after buying an additional 2,645 shares during the period. WT Wealth Management’s holdings in FedEx were worth $658,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. Retirement Network lifted its stake in FedEx by 76.9% during the first quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 90 shares in the last quarter. NewSquare Capital LLC raised its holdings in shares of FedEx by 215.4% in the 1st quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 140 shares during the period. Truvestments Capital LLC acquired a new position in FedEx during the 1st quarter worth about $27,000. Private Capital Group LLC lifted its stake in FedEx by 59.6% during the 1st quarter. Private Capital Group LLC now owns 257 shares of the shipping service provider’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Ballast Advisors LLC purchased a new position in FedEx during the 1st quarter valued at about $32,000. 73.98% of the stock is currently owned by institutional investors.
FDX traded up $2.95 during trading on Tuesday, hitting $132.66. The stock had a trading volume of 879,173 shares, compared to its average volume of 2,447,130. The firm has a market capitalization of $34.11 billion, a P/E ratio of -96.61, a PEG ratio of 1.20 and a beta of 1.31. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.16 and a current ratio of 1.21. FedEx Co. has a twelve month low of $88.69 and a twelve month high of $178.50. The company’s 50-day moving average price is $120.37 and its 200 day moving average price is $138.88.
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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.89 billion. During the same period in the previous year, the business posted $3.03 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 9.05 earnings per share for the current fiscal year.
Several analysts have recently issued reports on FDX shares. Deutsche Bank reduced their price target on shares of FedEx from $142.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Oppenheimer reiterated a “hold” rating on shares of FedEx in a report on Wednesday, May 6th. Credit Suisse Group dropped their price target on shares of FedEx from $159.00 to $121.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. BMO Capital Markets cut their price objective on FedEx from $150.00 to $115.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 18th. They noted that the move was a valuation call. Finally, Citigroup decreased their target price on FedEx from $180.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. FedEx has a consensus rating of “Hold” and a consensus target price of $147.91.
In related news, Director John A. Edwardson acquired 5,000 shares of FedEx stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $111.06 per share, for a total transaction of $555,300.00. Following the completion of the purchase, the director now directly owns 82,966 shares of the company’s stock, valued at $9,214,203.96. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $18,333,332.50. The disclosure for this sale can be found here. 8.44% of the stock is owned by insiders.
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.
Featured Story: Is a Roth IRA right for you?
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.