Budros Ruhlin & Roe Inc. Purchases New Shares in FedEx Co. (NYSE:FDX)

Budros Ruhlin & Roe Inc. acquired a new position in FedEx Co. (NYSE:FDX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 807 shares of the shipping service provider’s stock, valued at approximately $229,000.

A number of other hedge funds also recently made changes to their positions in FDX. BlackRock Inc. boosted its holdings in shares of FedEx by 2.2% in the first quarter. BlackRock Inc. now owns 18,519,425 shares of the shipping service provider’s stock worth $5,260,259,000 after acquiring an additional 406,634 shares during the period. Price T Rowe Associates Inc. MD raised its position in FedEx by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,127,584 shares of the shipping service provider’s stock valued at $2,629,323,000 after purchasing an additional 435,381 shares in the last quarter. FMR LLC raised its position in FedEx by 5.9% during the fourth quarter. FMR LLC now owns 5,473,734 shares of the shipping service provider’s stock valued at $1,421,090,000 after purchasing an additional 303,415 shares in the last quarter. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth about $523,326,000. Finally, Morgan Stanley increased its holdings in shares of FedEx by 9.0% in the fourth quarter. Morgan Stanley now owns 1,697,065 shares of the shipping service provider’s stock worth $440,593,000 after buying an additional 139,651 shares during the period. 71.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FDX opened at $292.84 on Friday. FedEx Co. has a 12 month low of $127.29 and a 12 month high of $319.90. The company has a market capitalization of $77.70 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The business’s 50 day moving average price is $297.67. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.56 and a current ratio of 1.60.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.21 by $0.26. FedEx had a return on equity of 20.74% and a net margin of 3.85%. The company had revenue of $21.51 billion for the quarter, compared to analysts’ expectations of $19.90 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 18.07 earnings per share for the current fiscal year.

Several analysts have weighed in on FDX shares. Vertical Research assumed coverage on FedEx in a research report on Friday, March 26th. They set a “buy” rating and a $340.00 price objective on the stock. Robert W. Baird reiterated a “buy” rating on shares of FedEx in a report on Sunday, February 21st. Wells Fargo & Company lifted their price objective on FedEx from $336.00 to $351.00 and gave the stock an “overweight” rating in a report on Thursday, May 20th. Credit Suisse Group dropped their target price on FedEx from $368.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, March 12th. Finally, Morgan Stanley lifted their price objective on FedEx from $250.00 to $265.00 and gave the company an “equal weight” rating in a research report on Thursday, June 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. FedEx presently has an average rating of “Buy” and an average price target of $318.33.

In other FedEx news, VP John L. Merino sold 10,000 shares of the business’s stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $273.30, for a total transaction of $2,733,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael C. Lenz sold 4,700 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $315.97, for a total transaction of $1,485,059.00. Following the transaction, the executive vice president now directly owns 15,646 shares of the company’s stock, valued at approximately $4,943,666.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,773 shares of company stock worth $53,374,869. 8.49% of the stock is currently owned by corporate insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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