Check Capital Management Inc. CA Has $646,000 Holdings in FedEx Corporation $FDX

Key Points

• Check Capital Management cut its FedEx stake by 98.9% in the fourth quarter, leaving it with 2,237 shares valued at about $646,000.
• FedEx reported strong quarterly results, with EPS of $5.25 beating estimates and revenue of $24 billion topping expectations. Revenue also rose 8.3% from a year earlier.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus rating and an average price target of $398.04, while several analysts recently reiterated or raised their views.

Check Capital Management Inc. CA reduced its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 98.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,237 shares of the shipping service provider's stock after selling 197,951 shares during the quarter. FedEx makes up approximately 0.0% of Check Capital Management Inc. CA's holdings, making the stock its 28th largest holding. Check Capital Management Inc. CA's holdings in FedEx were worth $646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Global Retirement Partners LLC lifted its holdings in FedEx by 32.6% during the 4th quarter. Global Retirement Partners LLC now owns 3,795 shares of the shipping service provider's stock worth $1,096,000 after buying an additional 932 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in FedEx by 12,244.0% during the 4th quarter. Fortis Group Advisors LLC now owns 6,172 shares of the shipping service provider's stock worth $1,783,000 after buying an additional 6,122 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in FedEx by 11.2% during the 4th quarter. Griffin Asset Management Inc. now owns 11,361 shares of the shipping service provider's stock worth $3,282,000 after purchasing an additional 1,141 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC lifted its position in FedEx by 16.8% during the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 1,555 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 224 shares during the period. Finally, ABN Amro Investment Solutions acquired a new position in FedEx during the 4th quarter valued at about $2,244,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of FedEx in a research report on Tuesday, May 12th. HSBC upgraded FedEx from a "reduce" rating to a "hold" rating and set a $360.00 price objective for the company in a report on Friday, March 20th. UBS Group reiterated a "buy" rating on shares of FedEx in a report on Tuesday, May 5th. Argus upped their price objective on FedEx from $350.00 to $400.00 and gave the company a "buy" rating in a report on Monday, April 6th. Finally, Wall Street Zen downgraded FedEx from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 12th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $398.04.

FedEx Stock Performance

Shares of FedEx stock opened at $386.22 on Thursday. The company has a market capitalization of $92.15 billion, a PE ratio of 20.55, a PEG ratio of 1.42 and a beta of 1.29. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock's fifty day simple moving average is $369.79 and its 200 day simple moving average is $331.43.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm's revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.51 EPS. On average, research analysts predict that FedEx Corporation will post 19.72 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kawal Preet sold 4,900 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares of the company's stock, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 5,795 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. The trade was a 36.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by corporate insiders.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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