Oarsman Capital Inc. Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Oarsman Capital Inc. reduced its stake in shares of FedEx Co. (NYSE:FDXGet Rating) by 18.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,759 shares of the shipping service provider’s stock after selling 618 shares during the quarter. Oarsman Capital Inc.’s holdings in FedEx were worth $714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Symmetry Investments LP increased its position in FedEx by 4.8% during the 4th quarter. Symmetry Investments LP now owns 5,238 shares of the shipping service provider’s stock valued at $1,355,000 after buying an additional 238 shares in the last quarter. Cutter & CO Brokerage Inc. increased its holdings in shares of FedEx by 10.7% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 1,042 shares of the shipping service provider’s stock valued at $270,000 after purchasing an additional 101 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of FedEx in the fourth quarter valued at about $297,000. CFO4Life Group LLC increased its holdings in shares of FedEx by 2.5% in the fourth quarter. CFO4Life Group LLC now owns 4,134 shares of the shipping service provider’s stock valued at $1,069,000 after purchasing an additional 100 shares during the period. Finally, Flagship Harbor Advisors LLC increased its holdings in shares of FedEx by 9.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,731 shares of the shipping service provider’s stock valued at $706,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 79.92% of the company’s stock.

Shares of NYSE:FDX traded up $3.09 during midday trading on Friday, hitting $211.29. The company had a trading volume of 2,077,301 shares, compared to its average volume of 2,029,353. FedEx Co. has a twelve month low of $192.82 and a twelve month high of $319.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.35. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.84 and a beta of 1.32. The business’s 50-day simple moving average is $212.50 and its 200-day simple moving average is $232.19.

FedEx (NYSE:FDXGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The shipping service provider reported $4.59 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.10). FedEx had a net margin of 5.60% and a return on equity of 20.67%. The company had revenue of $23.64 billion during the quarter, compared to analyst estimates of $23.33 billion. During the same period in the prior year, the business posted $3.47 EPS. FedEx’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 20.56 EPS for the current year.

FDX has been the topic of a number of research reports. Berenberg Bank set a $330.00 price objective on FedEx in a report on Tuesday, April 26th. Stephens dropped their target price on FedEx from $345.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. Bank of America dropped their target price on FedEx from $297.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, March 18th. Wells Fargo & Company dropped their target price on FedEx from $314.00 to $277.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. Finally, The Goldman Sachs Group set a $343.00 target price on FedEx in a report on Monday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $299.55.

In related news, Director Paul S. Walsh sold 3,720 shares of the stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total value of $767,882.40. Following the completion of the sale, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.16% of the stock is currently owned by company insiders.

FedEx Profile (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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