TBH Global Asset Management LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

TBH Global Asset Management LLC lowered its position in FedEx Co. (NYSE:FDX) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,314 shares of the shipping service provider’s stock after selling 400 shares during the quarter. TBH Global Asset Management LLC’s holdings in FedEx were worth $1,120,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Maryland State Retirement & Pension System acquired a new stake in shares of FedEx during the fourth quarter valued at $946,000. Daiwa Securities Group Inc. boosted its stake in shares of FedEx by 2.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 12,547 shares of the shipping service provider’s stock valued at $3,257,000 after acquiring an additional 346 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its stake in shares of FedEx by 0.3% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 20,179 shares of the shipping service provider’s stock valued at $5,239,000 after acquiring an additional 51 shares during the last quarter. Steel Peak Wealth Management LLC boosted its stake in shares of FedEx by 3.4% during the fourth quarter. Steel Peak Wealth Management LLC now owns 6,445 shares of the shipping service provider’s stock valued at $1,673,000 after acquiring an additional 214 shares during the last quarter. Finally, Altium Wealth Management LLC boosted its stake in shares of FedEx by 12.9% during the fourth quarter. Altium Wealth Management LLC now owns 1,413 shares of the shipping service provider’s stock valued at $367,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 72.74% of the company’s stock.

Shares of NYSE FDX traded down $4.55 during trading on Thursday, reaching $252.91. The stock had a trading volume of 52,017 shares, compared to its average volume of 2,845,681. FedEx Co. has a one year low of $88.69 and a one year high of $305.66. The stock has a market cap of $67.04 billion, a PE ratio of 27.48, a P/E/G ratio of 1.22 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.71 and a current ratio of 1.76. The firm’s 50 day moving average price is $252.67 and its two-hundred day moving average price is $250.31.

FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.01 by $0.82. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $19.45 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 17.24 earnings per share for the current year.

In related news, Director Kim Jabal sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 3,750 shares in the company, valued at approximately $963,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.49% of the company’s stock.

A number of brokerages have issued reports on FDX. DZ Bank reissued a “sell” rating on shares of FedEx in a research note on Wednesday, December 30th. Cowen raised their price target on FedEx from $290.00 to $328.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 16th. Oppenheimer reaffirmed a “hold” rating on shares of FedEx in a research note on Friday, December 18th. JPMorgan Chase & Co. set a $350.00 price objective on FedEx and gave the company a “buy” rating in a research note on Thursday, December 24th. Finally, Wells Fargo & Company raised their target price on FedEx from $286.00 to $331.00 and gave the company an “overweight” rating in a report on Monday, December 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $312.00.

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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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