American International Group Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,147 shares of the shipping service provider’s stock after selling 478 shares during the quarter. American International Group Inc.’s holdings in FedEx were worth $17,517,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its holdings in shares of FedEx by 14,866.7% during the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock worth $108,000 after buying an additional 446 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in shares of FedEx during the second quarter worth about $114,000. IMA Wealth Inc. purchased a new position in shares of FedEx during the second quarter worth about $136,000. Trust Department MB Financial Bank N A purchased a new position in shares of FedEx during the second quarter worth about $141,000. Finally, Kaizen Advisory LLC grew its holdings in shares of FedEx by 174.2% during the second quarter. Kaizen Advisory LLC now owns 647 shares of the shipping service provider’s stock worth $147,000 after buying an additional 411 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on FDX shares. Morgan Stanley lowered their price target on FedEx from $248.00 to $245.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 20th. UBS Group lowered FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective on the stock. in a report on Monday, July 16th. Citigroup lifted their price objective on FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, May 16th. Zacks Investment Research raised FedEx from a “hold” rating to a “buy” rating and set a $282.00 price objective on the stock in a report on Wednesday, May 30th. Finally, Oppenheimer lifted their price objective on FedEx from $282.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $283.75.
Shares of NYSE:FDX opened at $246.94 on Monday. The company has a market cap of $63.93 billion, a PE ratio of 16.13, a PEG ratio of 1.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.33 and a current ratio of 1.39. FedEx Co. has a 12 month low of $204.69 and a 12 month high of $274.66.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.72 by $0.19. The business had revenue of $17.31 billion for the quarter, compared to analyst estimates of $17.24 billion. FedEx had a return on equity of 23.17% and a net margin of 6.99%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.25 EPS. analysts expect that FedEx Co. will post 17.31 EPS for the current fiscal year.
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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