SlateStone Wealth LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,608 shares of the shipping service provider’s stock after selling 930 shares during the period. SlateStone Wealth LLC’s holdings in FedEx were worth $2,272,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sageworth Trust Co bought a new position in shares of FedEx in the 2nd quarter worth $25,000. CX Institutional bought a new position in shares of FedEx in the 3rd quarter worth $29,000. Accurate Investment Solutions Inc. raised its position in shares of FedEx by 125.0% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of FedEx in the 3rd quarter worth $33,000. Finally, Nelson Roberts Investment Advisors LLC bought a new position in shares of FedEx in the 2nd quarter worth $34,000. 71.33% of the stock is owned by institutional investors and hedge funds.
In related news, Director John A. Edwardson bought 5,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were purchased at an average price of $151.75 per share, for a total transaction of $758,750.00. Following the completion of the purchase, the director now directly owns 62,966 shares of the company’s stock, valued at $9,555,090.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Brad Martin bought 1,000 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the purchase, the director now directly owns 49,046 shares of the company’s stock, valued at $7,111,670. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by insiders.
FedEx stock traded down $1.04 during trading hours on Monday, hitting $162.18. 1,000,641 shares of the stock traded hands, compared to its average volume of 2,276,826. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. The firm’s 50 day moving average price is $150.20 and its 200-day moving average price is $162.24. The stock has a market capitalization of $43.01 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.13 and a beta of 1.72. FedEx Co. has a 1 year low of $137.78 and a 1 year high of $234.49.
FedEx (NYSE:FDX) last posted 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). The firm had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $17.05 billion. FedEx had a net margin of 0.65% and a return on equity of 21.15%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.46 EPS. Research analysts forecast that FedEx Co. will post 12.11 earnings per share for the current fiscal year.
FDX has been the subject of several recent research reports. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating and set a $161.00 price target for the company. in a research report on Thursday, August 29th. Berenberg Bank set a $155.00 target price on FedEx and gave the company a “hold” rating in a research report on Friday, October 11th. UBS Group reduced their target price on FedEx from $136.00 to $132.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Deutsche Bank raised FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus lowered FedEx from a “buy” rating to a “hold” rating and reduced their target price for the company from $185.00 to $171.00 in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $170.40.
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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