Torch Wealth Management LLC lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 4.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,425 shares of the shipping service provider’s stock after selling 375 shares during the quarter. Torch Wealth Management LLC’s holdings in FedEx were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its position in shares of FedEx by 1.4% during the 1st quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock valued at $525,728,000 after purchasing an additional 38,692 shares during the period. Greenhaven Associates Inc. increased its holdings in FedEx by 0.7% in the 1st quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock valued at $498,872,000 after acquiring an additional 20,450 shares during the last quarter. Geode Capital Management LLC increased its holdings in FedEx by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after acquiring an additional 185,252 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in FedEx by 40.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after acquiring an additional 792,575 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock valued at $383,063,000 after acquiring an additional 418,451 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.
In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the transaction, the director now directly owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Shares of NYSE:FDX traded down $3.46 on Thursday, reaching $151.61. The company’s stock had a trading volume of 1,129,335 shares, compared to its average volume of 2,135,324. FedEx Co. has a 52-week low of $150.68 and a 52-week high of $259.25. The company has a market cap of $40.44 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.86 and a beta of 1.65. The business has a 50-day moving average price of $165.14. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The business had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. During the same period last year, the company posted $5.91 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 14.61 earnings per share for the current fiscal year.
FDX has been the topic of a number of research reports. Berenberg Bank set a $175.00 price target on shares of FedEx and gave the company a “hold” rating in a report on Friday, June 28th. Raymond James reduced their price target on shares of FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Bank of America reduced their price target on shares of FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. TheStreet downgraded shares of FedEx from a “b-” rating to a “c+” rating in a report on Thursday, June 6th. Finally, Sanford C. Bernstein set a $205.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $191.63.
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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