Staley Capital Advisers Inc. Lowers Holdings in FedEx Corporation $FDX

Key Points

• Staley Capital Advisers cut its FedEx position by 2.1% in the fourth quarter, selling 4,735 shares and leaving it with 225,941 shares worth about $65.3 million.
• FedEx reported better-than-expected quarterly results, with earnings per share of $5.25 versus $4.12 expected and revenue of $24 billion, up 8.3% year over year.
• Wall Street remains broadly upbeat on the stock: FedEx has a “Moderate Buy” consensus rating, with 18 Buy ratings, 10 Hold ratings, and an average price target of $398.04.

Staley Capital Advisers Inc. decreased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 225,941 shares of the shipping service provider's stock after selling 4,735 shares during the quarter. FedEx accounts for about 2.7% of Staley Capital Advisers Inc.'s holdings, making the stock its 11th biggest holding. Staley Capital Advisers Inc. owned about 0.10% of FedEx worth $65,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. Vanguard Group Inc. boosted its stake in shares of FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Boston Partners purchased a new position in shares of FedEx in the third quarter valued at approximately $468,195,000. Dodge & Cox lifted its stake in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the last quarter. AQR Capital Management LLC grew its holdings in FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after acquiring an additional 1,718,278 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in FedEx during the 3rd quarter worth approximately $171,960,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of several analyst reports. UBS Group reiterated a "buy" rating on shares of FedEx in a report on Tuesday, May 5th. Evercore boosted their price target on shares of FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Jefferies Financial Group boosted their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Stephens reiterated an "overweight" rating and set a $435.00 price target on shares of FedEx in a report on Tuesday, April 14th. Finally, Wolfe Research lowered their price target on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Eighteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $398.04.

FedEx Stock Down 1.1%

Shares of NYSE:FDX opened at $375.99 on Friday. The company has a market capitalization of $89.71 billion, a PE ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a twelve month low of $214.35 and a twelve month high of $404.03. The firm has a 50 day simple moving average of $369.04 and a 200-day simple moving average of $328.17.

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

Insider Activity at FedEx

In other news, EVP Kawal Preet sold 4,900 shares of the business's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares of the company's stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock worth $17,599,006 over the last 90 days. 0.53% of the stock is owned by corporate insiders.

FedEx Company Profile

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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