Parkwood LLC Purchases New Holdings in FedEx Co. (FDX)

Parkwood LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the first quarter, HoldingsChannel.com reports. The firm purchased 25,689 shares of the shipping service provider’s stock, valued at approximately $4,660,000.

Several other institutional investors also recently modified their holdings of FDX. Creative Planning grew its holdings in FedEx by 16.0% during the 4th quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock worth $5,723,000 after acquiring an additional 4,901 shares during the period. Voit & Company LLC acquired a new stake in FedEx during the 4th quarter worth $2,175,000. Tower Bridge Advisors grew its holdings in FedEx by 5.1% during the 4th quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock worth $12,236,000 after acquiring an additional 3,686 shares during the period. Focused Investors LLC acquired a new stake in FedEx during the 4th quarter worth $66,774,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in FedEx during the 1st quarter worth $322,000. 71.68% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Morgan Stanley set a $148.00 target price on shares of FedEx and gave the stock a “hold” rating in a report on Friday. UBS Group lowered shares of FedEx from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $171.00 to $161.00 in a report on Friday, April 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 target price on shares of FedEx in a report on Monday, April 1st. Berenberg Bank lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their target price for the stock from $245.00 to $200.00 in a report on Monday, April 1st. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and set a $174.00 target price on shares of FedEx in a report on Thursday, March 28th. 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 company’s stock. The company has a consensus rating of “Hold” and an average price target of $212.33.

In related news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 200,320 shares in the company, valued at $34,715,456. The disclosure for this sale can be found here. Insiders sold a total of 185,650 shares of company stock valued at $34,751,470 in the last three months. 8.50% of the stock is owned by company insiders.

Shares of FDX stock opened at $169.92 on Friday. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $266.67. The firm has a market capitalization of $44.28 billion, a PE ratio of 11.10, a PEG ratio of 0.86 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period last year, the firm earned $3.72 EPS. FedEx’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 15.44 EPS for the current fiscal year.

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FedEx Company Profile

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.

See Also: Consumer Price Index (CPI)

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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