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.
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 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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