DekaBank Deutsche Girozentrale lessened its holdings in FedEx Co. (NYSE:FDX – Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,262 shares of the shipping service provider’s stock after selling 20,396 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in FedEx were worth $18,601,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of FedEx during the 4th quarter worth $388,787,000. International Assets Investment Management LLC boosted its position in FedEx by 24,422.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,169,490 shares of the shipping service provider’s stock valued at $1,678,000 after purchasing an additional 1,164,721 shares in the last quarter. Edmp Inc. boosted its position in FedEx by 21,900.8% during the fourth quarter. Edmp Inc. now owns 882,454 shares of the shipping service provider’s stock valued at $5,095,000 after purchasing an additional 878,443 shares in the last quarter. Morgan Stanley boosted its position in FedEx by 19.6% during the fourth quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock valued at $591,124,000 after purchasing an additional 559,607 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in FedEx by 34.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,951,974 shares of the shipping service provider’s stock valued at $338,082,000 after purchasing an additional 500,361 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.
Insider Transactions at FedEx
In related news, CEO Frederick W. Smith sold 131,755 shares of FedEx stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $232.21, for a total transaction of $30,594,828.55. Following the transaction, the chief executive officer now owns 14,459,759 shares in the company, valued at $3,357,700,637.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Frederick W. Smith sold 131,755 shares of FedEx stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $232.21, for a total transaction of $30,594,828.55. Following the transaction, the chief executive officer now owns 14,459,759 shares in the company, valued at $3,357,700,637.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen E. Gorman acquired 1,080 shares of FedEx stock in a transaction that occurred on Wednesday, April 12th. The shares were bought at an average price of $230.75 per share, for a total transaction of $249,210.00. Following the transaction, the director now owns 1,258 shares of the company’s stock, valued at approximately $290,283.50. The disclosure for this purchase can be found here. Insiders have sold 161,826 shares of company stock valued at $37,912,475 over the last ninety days. Insiders own 8.62% of the company’s stock.
FedEx Stock Up 1.4 %
FedEx (NYSE:FDX – Free Report) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.09. The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.87 earnings per share. Analysts predict that FedEx Co. will post 17.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on FDX shares. JPMorgan Chase & Co. raised their price objective on FedEx from $228.00 to $251.00 in a research report on Wednesday, June 21st. Sanford C. Bernstein raised their price objective on FedEx from $261.00 to $284.00 in a research report on Wednesday, June 21st. Raymond James decreased their price target on FedEx from $285.00 to $280.00 in a research note on Friday, June 16th. Stephens reiterated an “overweight” rating and issued a $290.00 price target on shares of FedEx in a research note on Thursday, April 6th. Finally, Morgan Stanley increased their price target on FedEx from $180.00 to $186.00 in a research note on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $245.11.
FedEx Profile
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 enablement, technology, and e-commerce transportation solutions.
See Also
- Five stocks we like better than FedEx
- MarketBeat Week in Review – 7/3 – 7/7
- Pfizer Just Invested $25 million In This Biotech
- Cracks In The Labor Market? Not Yet, But They’re Coming
- Levi’s: Buy On The Dip Or Downtrend In Play?
- Who Wins And Who Loses With China’s Metal Restrictions
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (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.
