FedEx Co. (FDX) Position Boosted by Westwood Holdings Group Inc.
Westwood Holdings Group Inc. lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 63.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 624,805 shares of the shipping service provider’s stock after acquiring an additional 241,604 shares during the quarter. FedEx makes up 1.2% of Westwood Holdings Group Inc.’s portfolio, making the stock its 18th biggest position. Westwood Holdings Group Inc. owned 0.23% of FedEx worth $150,021,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of FedEx by 14,866.7% during the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after acquiring an additional 446 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in shares of FedEx during the fourth quarter valued at approximately $144,000. We Are One Seven LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $148,000. Centaurus Financial Inc. bought a new position in shares of FedEx during the first quarter valued at approximately $156,000. Finally, Noesis Capital Mangement Corp bought a new position in shares of FedEx during the fourth quarter valued at approximately $202,000. Institutional investors own 73.84% of the company’s stock.
FedEx opened at $258.47 on Thursday, according to MarketBeat. FedEx Co. has a 12 month low of $202.42 and a 12 month high of $274.66. The firm has a market capitalization of $67.51 billion, a PE ratio of 20.86, a P/E/G ratio of 1.15 and a beta of 1.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.37 and a current ratio of 1.43.
In related news, CEO Frederick W. Smith sold 124,000 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the sale, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at $3,805,154,395.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 4,400 shares of the stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total value of $1,122,000.00. Following the sale, the director now directly owns 14,400 shares in the company, valued at $3,672,000. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
FDX has been the subject of a number of recent analyst reports. Credit Suisse Group decreased their target price on FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a report on Wednesday, March 21st. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $282.00 target price for the company in a report on Wednesday, May 30th. Oppenheimer upped their target price on FedEx from $265.00 to $274.00 and gave the company an “outperform” rating in a report on Friday, March 16th. Sanford C. Bernstein upgraded FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price objective for the company in a report on Friday, February 23rd. Finally, Morgan Stanley decreased their price objective on FedEx from $250.00 to $240.00 and set an “equal weight” rating for the company in a report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the company’s stock. FedEx presently has an average rating of “Buy” and an average target price of $280.73.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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