Millennium Capital Advisors LLC purchased a new stake in FedEx Corporation (NYSE:FDX – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,299 shares of the shipping service provider’s stock, valued at approximately $953,000.
Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Vanguard Group Inc. increased its stake in shares of FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares in the last quarter. Boston Partners purchased a new position in shares of FedEx in the 3rd quarter valued at about $468,195,000. Dodge & Cox increased its stake in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of FedEx in the 3rd quarter valued at about $171,960,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Insider Buying and Selling
In other news, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock valued at $17,599,006 over the last ninety days. 0.53% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
View Our Latest Analysis on FDX
FedEx Price Performance
FDX stock opened at $375.99 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a 50 day simple moving average of $369.04 and a 200-day simple moving average of $328.17. The firm has a market capitalization of $89.71 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. FedEx Corporation has a 1 year low of $214.35 and a 1 year high of $404.03.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.51 earnings per share. Equities research analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.
FedEx Company Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
Featured Articles
- Five stocks we like better than FedEx
- 3 Stocks to Own If Gas Prices Keep Rising
- 3 Crucial Aerospace Component Makers That Analysts Love
- Alphabet’s Googlebook Brings Gemini AI to PC Hardware
- Peloton Stock Gives Back Gains After Upbeat Earnings Report
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX – Free Report).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
