FedEx Co. (NYSE:FDX) Shares Acquired by Oak Asset Management LLC

Oak Asset Management LLC raised its stake in FedEx Co. (NYSE:FDX) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,807 shares of the shipping service provider’s stock after acquiring an additional 563 shares during the period. FedEx accounts for about 1.9% of Oak Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. Oak Asset Management LLC’s holdings in FedEx were worth $5,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. bLong Financial LLC bought a new position in shares of FedEx during the fourth quarter worth about $391,000. Lodestone Wealth Management LLC bought a new position in FedEx in the 4th quarter worth about $461,000. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of FedEx by 57.9% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider’s stock valued at $2,965,000 after purchasing an additional 3,867 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FedEx by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,156 shares of the shipping service provider’s stock valued at $5,371,000 after buying an additional 4,792 shares during the last quarter. Finally, Wilsey Asset Management Inc. grew its holdings in FedEx by 2.1% in the 4th quarter. Wilsey Asset Management Inc. now owns 108,113 shares of the shipping service provider’s stock worth $30,415,000 after buying an additional 2,193 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Down 0.4%

FDX opened at $218.95 on Thursday. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The company’s 50-day moving average price is $216.82 and its two-hundred day moving average price is $250.96. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.86 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FDX. UBS Group dropped their price target on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Wall Street Zen cut FedEx from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Finally, Raymond James decreased their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.