FedEx Corp. (FDX) Position Raised by Zacks Investment Management
Zacks Investment Management raised its stake in shares of FedEx Corp. (NYSE:FDX) by 185.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 75,473 shares of the shipping service provider’s stock after buying an additional 48,993 shares during the period. Zacks Investment Management’s holdings in FedEx Corp. were worth $11,455,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in FDX. Invictus RG purchased a new position in shares of FedEx Corp. during the first quarter valued at about $161,000. Envestnet Asset Management Inc. boosted its position in shares of FedEx Corp. by 6.5% in the first quarter. Envestnet Asset Management Inc. now owns 28,037 shares of the shipping service provider’s stock valued at $4,562,000 after buying an additional 1,707 shares during the last quarter. Halsey Associates Inc. CT boosted its position in shares of FedEx Corp. by 0.7% in the first quarter. Halsey Associates Inc. CT now owns 5,194 shares of the shipping service provider’s stock valued at $845,000 after buying an additional 34 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of FedEx Corp. during the first quarter valued at about $1,734,000. Finally, Westend Capital Management LLC boosted its position in shares of FedEx Corp. by 1.9% in the first quarter. Westend Capital Management LLC now owns 8,140 shares of the shipping service provider’s stock valued at $1,325,000 after buying an additional 155 shares during the last quarter. 74.02% of the stock is currently owned by institutional investors.
FedEx Corp. (NYSE:FDX) traded up 0.07% during trading on Friday, reaching $183.69. The company had a trading volume of 1,560,368 shares. The firm has a market capitalization of $48.82 billion, a price-to-earnings ratio of 27.47 and a beta of 1.14. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $185.00. The company’s 50-day moving average is $174.41 and its 200 day moving average is $165.10.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. The company had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 EPS. Equities analysts anticipate that FedEx Corp. will post $12.16 EPS for the current year.
FDX has been the topic of several research reports. Robert W. Baird reissued an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a research report on Friday, September 23rd. Sanford C. Bernstein set a $159.00 target price on FedEx Corp. and gave the stock a “neutral” rating in a research report on Wednesday, September 21st. Vetr raised FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 target price on the stock in a research report on Monday, July 25th. Zacks Investment Research cut FedEx Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Finally, Deutsche Bank AG began coverage on FedEx Corp. in a research report on Wednesday, November 2nd. They set a “buy” rating and a $210.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $177.34.
In other news, VP John L. Merino sold 10,280 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total value of $1,868,081.60. Following the transaction, the vice president now owns 29,722 shares in the company, valued at $5,401,081.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry J. Maier sold 5,213 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the transaction, the insider now owns 27,720 shares in the company, valued at approximately $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is owned by insiders.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
Receive News & Stock Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related stocks with our FREE daily email newsletter.