Investment House LLC decreased its position in shares of FedEx Corporation (NYSE:FDX – Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,207 shares of the shipping service provider’s stock after selling 1,655 shares during the period. Investment House LLC’s holdings in FedEx were worth $6,126,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of FedEx by 11.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after buying an additional 3,514 shares during the last quarter. Savant Capital LLC raised its position in shares of FedEx by 32.5% during the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock valued at $9,437,000 after buying an additional 9,806 shares during the last quarter. National Pension Service raised its position in shares of FedEx by 3.9% during the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider’s stock valued at $149,356,000 after buying an additional 23,563 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of FedEx during the third quarter valued at about $171,960,000. Finally, Applied Finance Capital Management LLC acquired a new position in shares of FedEx during the third quarter valued at about $727,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
Insider Activity at FedEx
In other news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,104 shares of company stock valued at $17,599,006 over the last three months. 0.53% of the stock is owned by company insiders.
FedEx Price Performance
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the prior year, the firm earned $4.51 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
FDX has been the subject of a number of research analyst reports. Barclays reaffirmed a “buy” rating on shares of FedEx in a research report on Monday, May 11th. Citigroup upped their target price on shares of FedEx from $327.00 to $401.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. The Goldman Sachs Group upped their target price on shares of FedEx from $364.00 to $369.00 and gave the company a “buy” rating in a research note on Friday, March 13th. BMO Capital Markets upped their target price on shares of FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $479.00 target price on shares of FedEx in a research note on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $398.04.
Read Our Latest Analysis on FedEx
FedEx 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.
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