NorthCrest Asset Manangement LLC lifted its position in FedEx Co. (NYSE:FDX – Free Report) by 766.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,681 shares of the shipping service provider’s stock after purchasing an additional 16,525 shares during the period. NorthCrest Asset Manangement LLC’s holdings in FedEx were worth $4,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zullo Investment Group Inc. boosted its stake in shares of FedEx by 6.1% in the first quarter. Zullo Investment Group Inc. now owns 5,456 shares of the shipping service provider’s stock worth $1,247,000 after acquiring an additional 313 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of FedEx by 1.5% during the first quarter. D.A. Davidson & CO. now owns 36,191 shares of the shipping service provider’s stock worth $8,266,000 after buying an additional 529 shares in the last quarter. Bank Hapoalim BM raised its position in shares of FedEx by 3.9% in the first quarter. Bank Hapoalim BM now owns 4,792 shares of the shipping service provider’s stock valued at $1,095,000 after buying an additional 179 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of FedEx by 69.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,257 shares of the shipping service provider’s stock worth $973,000 after buying an additional 1,751 shares in the last quarter. Finally, Sitrin Capital Management LLC acquired a new position in FedEx during the first quarter worth about $203,000. 73.39% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of FedEx stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total value of $2,577,226.61. Following the transaction, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Jennifer L. Johnson sold 10,801 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 19,270 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the transaction, the executive vice president now directly owns 58,875 shares in the company, valued at $14,483,250. The disclosure for this sale can be found here. Insiders have sold a total of 161,826 shares of company stock worth $37,912,475 in the last 90 days. Company insiders own 8.62% of the company’s stock.
Analysts Set New Price Targets
FedEx Trading Up 1.4 %
NYSE FDX opened at $251.25 on Monday. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $253.13. The stock’s 50 day moving average price is $230.70 and its two-hundred day moving average price is $214.84. The stock has a market capitalization of $63.38 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.21 and a beta of 1.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.33 and a current ratio of 1.37.
FedEx (NYSE:FDX – Free Report) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, beating the consensus estimate of $4.85 by $0.09. The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.55 billion. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.87 EPS. As a group, analysts anticipate that FedEx Co. will post 17.29 earnings per share for the current fiscal year.
About FedEx
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.
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