Advisory Services Network LLC lifted its stake in FedEx Co. (NYSE:FDX) by 67.7% in the third quarter, HoldingsChannel.com reports. The fund owned 8,785 shares of the shipping service provider’s stock after purchasing an additional 3,548 shares during the period. Advisory Services Network LLC’s holdings in FedEx were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Palo Capital Inc. bought a new stake in FedEx during the third quarter valued at $108,000. Vigilant Capital Management LLC bought a new stake in FedEx during the second quarter valued at $114,000. Lenox Wealth Advisors LLC bought a new stake in FedEx during the third quarter valued at $120,000. Fortis Advisors LLC boosted its stake in FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after buying an additional 370 shares during the period. Finally, TRUE Private Wealth Advisors bought a new stake in FedEx during the third quarter valued at $134,000. 72.79% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on FDX shares. UBS Group lowered FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research note on Monday, July 16th. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Morgan Stanley reissued a “hold” rating and set a $242.00 price objective (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reissued a “buy” rating and set a $305.00 price objective on shares of FedEx in a research note on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price objective on FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. FedEx has an average rating of “Buy” and a consensus price target of $284.86.
Shares of FDX stock opened at $222.61 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26. FedEx Co. has a 12-month low of $207.90 and a 12-month high of $274.66. The stock has a market cap of $58.41 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.00 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period last year, the firm earned $2.65 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts anticipate that FedEx Co. will post 17.35 earnings per share for the current fiscal year.
In other news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now owns 32,800 shares in the company, valued at $7,949,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan Patricia Griffith acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
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FedEx Company Profile
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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