Family Legacy Inc. lowered its position in FedEx Co. (NYSE:FDX) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,210 shares of the shipping service provider’s stock after selling 70 shares during the quarter. Family Legacy Inc.’s holdings in FedEx were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Washington Capital Management Inc. bought a new stake in FedEx in the first quarter valued at approximately $1,846,000. Mn Services Vermogensbeheer B.V. lifted its position in FedEx by 1.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 43,090 shares of the shipping service provider’s stock valued at $7,817,000 after purchasing an additional 500 shares during the last quarter. Sandy Spring Bank lifted its position in FedEx by 9.9% in the first quarter. Sandy Spring Bank now owns 11,112 shares of the shipping service provider’s stock valued at $2,016,000 after purchasing an additional 1,005 shares during the last quarter. Thomas Story & Son LLC lifted its position in FedEx by 11.3% in the first quarter. Thomas Story & Son LLC now owns 15,735 shares of the shipping service provider’s stock valued at $2,854,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its position in FedEx by 3.8% in the first quarter. Cetera Advisor Networks LLC now owns 9,925 shares of the shipping service provider’s stock valued at $1,791,000 after purchasing an additional 365 shares during the last quarter. 71.68% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on FDX shares. Cowen reiterated an “outperform” rating and issued a $237.00 price objective (down previously from $242.00) on shares of FedEx in a research report on Thursday, March 14th. Raymond James lowered their price objective on FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Barclays lowered their price objective on FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 20th. Finally, KeyCorp lowered their price objective on FedEx from $240.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. FedEx has an average rating of “Hold” and an average target price of $212.33.
Shares of FedEx stock opened at $169.92 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The company has a market cap of $44.28 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.62. FedEx Co. has a 52 week low of $150.94 and a 52 week high of $266.67.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The business had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. FedEx’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.72 EPS. On average, equities analysts predict that FedEx Co. will post 15.44 earnings per share for the current fiscal year.
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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.
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