Greystone Financial Group LLC bought a new stake in FedEx Co. (NYSE:FDX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 34,449 shares of the shipping service provider's stock, valued at approximately $8,398,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in shares of FedEx during the fourth quarter worth about $26,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in FedEx during the 4th quarter worth approximately $28,000. Activest Wealth Management acquired a new position in FedEx during the fourth quarter worth approximately $29,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in FedEx during the fourth quarter worth approximately $32,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
FedEx Trading Up 1.5%
NYSE:FDX opened at $219.96 on Monday. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $215.83 and a 200-day simple moving average of $249.33. The company has a market capitalization of $52.70 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.
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 for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter last year, the business posted $3.86 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.
Insider Buying and Selling
In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.87% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FDX. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. BMO Capital Markets lowered their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Bank of America dropped their price objective on shares of FedEx from $272.00 to $270.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Barclays decreased their target price on shares of FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a research note on Tuesday, June 3rd. Finally, Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $295.33.
Get Our Latest Research Report on FDX
About FedEx
(
Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider FedEx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FedEx wasn't on the list.
While FedEx currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
