Moloney Securities Asset Management LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 54.2% during the 1st quarter, Holdings Channel reports. The firm owned 4,606 shares of the shipping service provider’s stock after purchasing an additional 1,619 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in FedEx were worth $836,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of FDX. Creative Planning lifted its holdings in FedEx by 16.0% in the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock valued at $5,723,000 after acquiring an additional 4,901 shares during the last quarter. Voit & Company LLC acquired a new position in FedEx during the fourth quarter worth $2,175,000. Tower Bridge Advisors lifted its stake in FedEx by 5.1% during the fourth quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock worth $12,236,000 after purchasing an additional 3,686 shares in the last quarter. Focused Investors LLC acquired a new position in FedEx during the fourth quarter worth $66,774,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in FedEx during the first quarter worth $322,000. Institutional investors and hedge funds own 71.68% of the company’s stock.
Shares of FedEx stock opened at $171.86 on Thursday. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $266.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 0.88 and a beta of 1.62.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. During the same period last year, the business posted $3.72 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 15.44 earnings per share for the current year.
In other news, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,650 shares of company stock valued at $34,751,470. Corporate insiders own 8.50% of the company’s stock.
A number of research firms have commented on FDX. UBS Group cut FedEx from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $171.00 to $161.00 in a research note on Friday, April 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of FedEx in a research report on Monday, April 1st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. KeyCorp cut their price objective on FedEx from $240.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 20th. Finally, Barclays cut their price objective on FedEx from $235.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $212.33.
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: What is the strike price in options trading?
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).