Afam Capital Inc. increased its stake in FedEx (NYSE:FDX) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,765 shares of the shipping service provider’s stock after acquiring an additional 505 shares during the quarter. Afam Capital Inc.’s holdings in FedEx were worth $7,387,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in FedEx during the 4th quarter valued at $19,047,000. J. Goldman & Co LP increased its stake in FedEx by 209.6% during the 4th quarter. J. Goldman & Co LP now owns 68,492 shares of the shipping service provider’s stock valued at $17,091,000 after purchasing an additional 130,992 shares in the last quarter. Hartwell J M Limited Partnership bought a new stake in FedEx during the 4th quarter valued at $4,396,000. Kovack Advisors Inc. bought a new stake in FedEx during the 4th quarter valued at $343,000. Finally, Elkfork Partners LLC bought a new stake in FedEx during the 4th quarter valued at $1,070,000. Institutional investors own 75.21% of the company’s stock.
Shares of FedEx opened at $248.46 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $66.26 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.28 and a beta of 1.39. FedEx has a fifty-two week low of $246.94 and a fifty-two week high of $248.54.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.61. The company had revenue of $16.53 billion for the quarter, compared to the consensus estimate of $16.17 billion. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. analysts expect that FedEx will post 15.14 EPS for the current year.
FDX has been the subject of a number of recent research reports. Credit Suisse Group decreased their price target on shares of FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a research note on Wednesday, March 21st. Zacks Investment Research lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Oppenheimer lifted their price objective on shares of FedEx from $265.00 to $274.00 and gave the stock an “outperform” rating in a report on Friday, March 16th. Sanford C. Bernstein raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price objective on the stock in a report on Friday, February 23rd. Finally, Morgan Stanley cut their price objective on shares of FedEx from $250.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $281.60.
In related news, Director Paul S. Walsh sold 4,400 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 14,400 shares of the company’s stock, valued at approximately $3,672,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick W. Smith sold 124,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 14,864,465 shares in the company, valued at $3,805,154,395.35. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by insiders.
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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