LPL Financial LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 0.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 136,105 shares of the shipping service provider’s stock after acquiring an additional 1,136 shares during the period. LPL Financial LLC owned approximately 0.05% of FedEx worth $34,233,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quantitative Systematic Strategies LLC bought a new position in FedEx during the 3rd quarter valued at about $1,932,000. Banco Santander S.A. purchased a new stake in shares of FedEx during the 3rd quarter valued at about $648,000. Glassman Wealth Services increased its position in shares of FedEx by 9.0% during the 3rd quarter. Glassman Wealth Services now owns 1,537 shares of the shipping service provider’s stock valued at $387,000 after purchasing an additional 127 shares during the last quarter. Sound View Wealth Advisors Group LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at about $219,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at about $1,531,000. Institutional investors and hedge funds own 71.65% of the company’s stock.
Shares of FDX opened at $285.05 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.64 and a current ratio of 1.69. FedEx Co. has a one year low of $88.69 and a one year high of $293.30. The stock has a market capitalization of $74.85 billion, a price-to-earnings ratio of 42.10, a PEG ratio of 1.44 and a beta of 1.38. The stock has a 50 day moving average price of $270.68 and a 200 day moving average price of $194.47.
Several research firms have recently commented on FDX. Evercore ISI began coverage on shares of FedEx in a research report on Wednesday, September 9th. They set an “outperform” rating and a $300.00 price target for the company. BMO Capital Markets increased their target price on shares of FedEx from $220.00 to $265.00 and gave the stock a “market perform” rating in a report on Wednesday, September 16th. Stifel Nicolaus raised shares of FedEx from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $281.00 in a report on Thursday, September 24th. Cowen increased their price objective on shares of FedEx from $167.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, September 11th. Finally, Bank of America reaffirmed a “buy” rating and set a $300.00 price objective on shares of FedEx in a report on Wednesday, September 16th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $277.46.
In other FedEx news, CEO Donald F. Colleran sold 6,845 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $260.30, for a total value of $1,781,753.50. Following the completion of the sale, the chief executive officer now directly owns 45,899 shares in the company, valued at approximately $11,947,509.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Rajesh Subramaniam sold 4,314 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $243.36, for a total value of $1,049,855.04. Following the completion of the sale, the chief operating officer now owns 36,336 shares of the company’s stock, valued at $8,842,728.96. The disclosure for this sale can be found here. Insiders have sold 110,458 shares of company stock valued at $28,715,799 over the last quarter. 8.49% of the stock is owned by company insiders.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers 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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