Cottage Street Advisors LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 5.6% in the 4th quarter, HoldingsChannel reports. The firm owned 10,547 shares of the shipping service provider’s stock after acquiring an additional 562 shares during the period. Cottage Street Advisors LLC’s holdings in FedEx were worth $1,702,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its stake in FedEx by 2.2% in the third quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock worth $132,752,000 after buying an additional 11,798 shares in the last quarter. Focused Investors LLC purchased a new stake in FedEx in the fourth quarter worth approximately $66,774,000. Creative Planning boosted its stake in FedEx by 16.0% in the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock worth $5,723,000 after buying an additional 4,901 shares in the last quarter. North Star Asset Management Inc. boosted its stake in FedEx by 4.0% in the third quarter. North Star Asset Management Inc. now owns 38,811 shares of the shipping service provider’s stock worth $9,345,000 after buying an additional 1,510 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in FedEx in the third quarter worth approximately $3,561,000. 77.98% of the stock is owned by institutional investors.
NYSE:FDX opened at $181.09 on Tuesday. The company has a market cap of $46.27 billion, a PE ratio of 11.83, a P/E/G ratio of 0.87 and a beta of 1.60. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same period last year, the company posted $3.18 EPS. Sell-side analysts anticipate that FedEx Co. will post 15.92 earnings per share for the current year.
Several analysts have issued reports on the company. UBS Group cut their target price on FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Berenberg Bank reaffirmed a “buy” rating and issued a $245.00 target price on shares of FedEx in a research note on Monday, January 7th. Zacks Investment Research reaffirmed a “strong sell” rating on shares of FedEx in a research note on Monday, December 31st. JPMorgan Chase & Co. set a $233.00 target price on FedEx and gave the stock a “buy” rating in a research note on Monday, December 31st. Finally, ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $237.75.
In other news, VP John L. Merino sold 2,300 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner acquired 7,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were bought at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the purchase, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.
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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.
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