Gamble Jones Investment Counsel trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,248 shares of the shipping service provider’s stock after selling 216 shares during the period. Gamble Jones Investment Counsel’s holdings in FedEx were worth $473,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sageworth Trust Co bought a new stake in FedEx in the second quarter valued at approximately $25,000. CX Institutional bought a new stake in FedEx in the third quarter valued at approximately $29,000. Nelson Roberts Investment Advisors LLC bought a new stake in FedEx in the second quarter valued at approximately $34,000. Accurate Investment Solutions Inc. increased its stake in FedEx by 125.0% in the third quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in FedEx in the third quarter valued at approximately $33,000. 71.33% of the stock is owned by institutional investors and hedge funds.
In other FedEx news, Director R Brad Martin bought 1,000 shares of FedEx stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Edwardson bought 5,000 shares of FedEx stock in a transaction that occurred on Thursday, October 31st. The shares were acquired at an average price of $151.75 per share, with a total value of $758,750.00. Following the acquisition, the director now directly owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. Corporate insiders own 8.44% of the company’s stock.
Several brokerages have commented on FDX. Robert W. Baird lowered their target price on shares of FedEx from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 target price for the company. in a research note on Wednesday, October 9th. Raymond James lowered their target price on shares of FedEx from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, September 18th. DZ Bank reaffirmed a “sell” rating on shares of FedEx in a research note on Wednesday, September 18th. Finally, Wells Fargo & Co began coverage on shares of FedEx in a research note on Monday, October 28th. They issued an “outperform” rating and a $189.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $170.40.
Shares of FedEx stock traded down $0.70 on Friday, hitting $163.22. The company had a trading volume of 1,107,077 shares, compared to its average volume of 2,585,977. The firm has a market capitalization of $43.01 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.13 and a beta of 1.72. FedEx Co. has a twelve month low of $137.78 and a twelve month high of $234.49. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. The stock has a 50-day moving average of $150.20 and a 200-day moving average of $162.24.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The company had revenue of $17.05 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company earned $3.46 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 12.11 EPS for the current year.
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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