Private Management Group Inc. cut its stake in FedEx Co. (NYSE:FDX) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 50,752 shares of the shipping service provider’s stock after selling 190 shares during the period. Private Management Group Inc.’s holdings in FedEx were worth $13,176,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Danda Trouve Investment Management Inc. purchased a new position in shares of FedEx during the 3rd quarter worth $25,000. Planned Solutions Inc. purchased a new position in shares of FedEx during the 3rd quarter worth $25,000. CVA Family Office LLC purchased a new position in shares of FedEx during the 4th quarter worth $26,000. First Personal Financial Services grew its holdings in shares of FedEx by 73.5% during the 3rd quarter. First Personal Financial Services now owns 118 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 50 shares during the period. Finally, Pacific Center for Financial Services grew its holdings in shares of FedEx by 227.0% during the 3rd quarter. Pacific Center for Financial Services now owns 121 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 72.74% of the company’s stock.
A number of equities analysts have recently weighed in on FDX shares. Sanford C. Bernstein reiterated a “buy” rating and set a $308.00 price target on shares of FedEx in a report on Wednesday, December 2nd. Berenberg Bank set a $325.00 price objective on FedEx and gave the company a “buy” rating in a research note on Wednesday, December 30th. UBS Group lifted their price objective on FedEx from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, December 8th. Wells Fargo & Company raised their target price on FedEx from $286.00 to $331.00 and gave the stock an “overweight” rating in a research report on Monday, December 7th. Finally, Cowen lifted their price target on FedEx from $290.00 to $328.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $312.00.
FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.82. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $19.45 billion. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $2.51 EPS. As a group, equities research analysts forecast that FedEx Co. will post 17.24 EPS for the current fiscal year.
In other news, Director Kim Jabal sold 3,000 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $256.89, for a total transaction of $770,670.00. Following the completion of the sale, the director now directly owns 3,750 shares of the company’s stock, valued at approximately $963,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.49% of the company’s stock.
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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