Artisan Partners Limited Partnership decreased its holdings in FedEx Co. (NYSE:FDX – Free Report) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 540,659 shares of the shipping service provider’s stock after selling 18,198 shares during the quarter. Artisan Partners Limited Partnership’s holdings in FedEx were worth $134,029,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. Archer Investment Corp lifted its stake in shares of FedEx by 0.7% in the second quarter. Archer Investment Corp now owns 5,417 shares of the shipping service provider’s stock valued at $1,343,000 after purchasing an additional 38 shares during the period. Cascade Investment Advisors Inc. increased its stake in FedEx by 0.6% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 6,904 shares of the shipping service provider’s stock valued at $1,712,000 after purchasing an additional 40 shares in the last quarter. Massachusetts Wealth Management boosted its position in FedEx by 2.9% during the second quarter. Massachusetts Wealth Management now owns 1,405 shares of the shipping service provider’s stock worth $348,000 after purchasing an additional 40 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in FedEx by 0.8% in the second quarter. Zullo Investment Group Inc. now owns 5,497 shares of the shipping service provider’s stock valued at $1,363,000 after purchasing an additional 41 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of FedEx by 0.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 16,651 shares of the shipping service provider’s stock worth $2,903,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on FDX. Stifel Nicolaus increased their target price on FedEx from $284.00 to $285.00 in a report on Thursday, October 5th. The Goldman Sachs Group boosted their target price on shares of FedEx from $269.00 to $278.00 in a research note on Wednesday, September 13th. Susquehanna raised shares of FedEx from a “neutral” rating to a “positive” rating and upped their price objective for the company from $225.00 to $315.00 in a research note on Monday, October 2nd. Barclays raised their target price on shares of FedEx from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, September 15th. Finally, Loop Capital upped their price objective on FedEx from $255.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $282.54.
View Our Latest Stock Analysis on FedEx
Insider Transactions at FedEx
In other FedEx news, VP Jennifer L. Johnson sold 13,348 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $258.25, for a total transaction of $3,447,121.00. Following the sale, the vice president now owns 3,428 shares in the company, valued at $885,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.73% of the company’s stock.
FedEx Price Performance
Shares of NYSE FDX opened at $254.94 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.76. FedEx Co. has a fifty-two week low of $162.61 and a fifty-two week high of $270.95. The business has a 50 day moving average price of $250.50 and a two-hundred day moving average price of $247.13. The firm has a market cap of $64.10 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.18 and a beta of 1.34.
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.84. The business had revenue of $21.68 billion during the quarter, compared to analyst estimates of $21.74 billion. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Sell-side analysts expect that FedEx Co. will post 18.14 earnings per share for the current fiscal year.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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