FedEx Corporation (FDX) Stake Decreased by Advisory Services Network LLC
Advisory Services Network LLC reduced its stake in shares of FedEx Corporation (NYSE:FDX) by 37.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,719 shares of the shipping service provider’s stock after selling 1,605 shares during the period. Advisory Services Network LLC’s holdings in FedEx Corporation were worth $591,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new position in FedEx Corporation in the first quarter valued at approximately $100,000. Salem Investment Counselors Inc. raised its holdings in FedEx Corporation by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC raised its holdings in FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the period. Finally, Krilogy Financial LLC raised its holdings in FedEx Corporation by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Institutional investors and hedge funds own 76.22% of the company’s stock.
Shares of FedEx Corporation (FDX) opened at $221.43 on Tuesday. The company has a market capitalization of $58,496.42, a P/E ratio of 18.32, a P/E/G ratio of 1.37 and a beta of 1.37. FedEx Corporation has a 12 month low of $182.75 and a 12 month high of $231.35. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 EPS. research analysts expect that FedEx Corporation will post 12.47 earnings per share for the current year.
A number of analysts have recently issued reports on FDX shares. Vetr lowered shares of FedEx Corporation to a “sell” rating and set a $204.84 price objective on the stock. in a research note on Thursday, August 31st. BMO Capital Markets reiterated a “buy” rating and set a $245.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub lowered shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $230.21.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. In the last three months, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by company insiders.
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FedEx Corporation Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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