Bartlett & Co. LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 27.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 174,843 shares of the shipping service provider’s stock after buying an additional 37,854 shares during the quarter. Bartlett & Co. LLC owned about 0.07% of FedEx worth $25,452,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. KLCM Advisors Inc. purchased a new stake in shares of FedEx during the third quarter valued at about $270,000. SRS Capital Advisors Inc. increased its holdings in shares of FedEx by 8.6% during the third quarter. SRS Capital Advisors Inc. now owns 2,487 shares of the shipping service provider’s stock valued at $362,000 after acquiring an additional 197 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of FedEx by 3.4% during the third quarter. Parallel Advisors LLC now owns 4,731 shares of the shipping service provider’s stock valued at $689,000 after acquiring an additional 155 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of FedEx by 7.7% during the third quarter. First Mercantile Trust Co. now owns 6,453 shares of the shipping service provider’s stock valued at $939,000 after acquiring an additional 460 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in shares of FedEx by 15.1% during the third quarter. Moloney Securities Asset Management LLC now owns 5,651 shares of the shipping service provider’s stock valued at $823,000 after acquiring an additional 743 shares in the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on FDX. Wells Fargo & Co began coverage on shares of FedEx in a report on Monday, October 28th. They set an “outperform” rating and a $189.00 price objective on the stock. Loop Capital cut their price objective on shares of FedEx to $200.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating and set a $161.00 price objective on the stock. in a report on Thursday, August 29th. DZ Bank restated a “sell” rating on shares of FedEx in a report on Wednesday, September 18th. Finally, Credit Suisse Group cut their price objective on shares of FedEx from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $170.40.
In other FedEx news, Director R Brad Martin purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the acquisition, the director now owns 49,046 shares in the company, valued at $7,111,670. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Edwardson acquired 5,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were purchased at an average cost of $151.75 per share, for a total transaction of $758,750.00. Following the purchase, the director now directly owns 62,966 shares in the company, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by corporate insiders.
Shares of NYSE:FDX opened at $163.17 on Thursday. FedEx Co. has a twelve month low of $137.78 and a twelve month high of $234.49. The company’s 50 day moving average is $149.67 and its 200 day moving average is $162.59. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The company has a market cap of $40.84 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.72.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The business had revenue of $17.05 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company posted $3.46 EPS. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 12.11 earnings per share for the current fiscal year.
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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