AMI Investment Management Inc. Raises Stake in FedEx Co. (NYSE:FDX)

AMI Investment Management Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 7.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,375 shares of the shipping service provider's stock after buying an additional 1,167 shares during the quarter. FedEx accounts for about 1.3% of AMI Investment Management Inc.'s portfolio, making the stock its 24th largest holding. AMI Investment Management Inc.'s holdings in FedEx were worth $3,992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Brighton Jones LLC lifted its position in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 207 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in FedEx by 33.4% in 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 acquiring an additional 4,792 shares during the period. Confluence Wealth Services Inc. boosted its position in FedEx by 8.5% in the 4th quarter. Confluence Wealth Services Inc. now owns 2,727 shares of the shipping service provider's stock worth $736,000 after purchasing an additional 213 shares in the last quarter. YANKCOM Partnership purchased a new stake in FedEx during the fourth quarter worth $886,000. Finally, Financial Advocates Investment Management boosted its stake in shares of FedEx by 42.9% during the 4th quarter. Financial Advocates Investment Management now owns 1,831 shares of the shipping service provider's stock worth $515,000 after acquiring an additional 550 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FDX shares. Raymond James lowered their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. TD Cowen reduced their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus cut their price objective on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $295.33.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.87% of the company's stock.

FedEx Stock Down 1.1%

Shares of NYSE FDX opened at $216.54 on Friday. The company has a market capitalization of $51.88 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50 day simple moving average of $216.27 and a 200-day simple moving average of $250.41. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. FedEx's revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

About FedEx

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.

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