FedEx Co. (FDX) Shares Sold by Check Capital Management Inc. CA
Check Capital Management Inc. CA lessened its holdings in FedEx Co. (NYSE:FDX) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 246,048 shares of the shipping service provider’s stock after selling 16,660 shares during the quarter. FedEx comprises 3.4% of Check Capital Management Inc. CA’s portfolio, making the stock its 6th largest position. Check Capital Management Inc. CA’s holdings in FedEx were worth $61,399,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Salem Investment Counselors Inc. grew its holdings in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC grew its holdings in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Cerebellum GP LLC purchased a new stake in FedEx in the fourth quarter worth about $125,000. Financial Engines Advisors L.L.C. purchased a new stake in FedEx in the third quarter worth about $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in FedEx in the third quarter worth about $136,000. Institutional investors and hedge funds own 75.94% of the company’s stock.
A number of brokerages have weighed in on FDX. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price objective on the stock in a report on Thursday, January 18th. Bank of America reiterated a “buy” rating and issued a $315.00 target price on shares of FedEx in a research note on Friday, January 12th. BMO Capital Markets reiterated a “buy” rating and issued a $300.00 target price on shares of FedEx in a research note on Monday, January 8th. Robert W. Baird reiterated a “buy” rating and issued a $280.00 target price on shares of FedEx in a research note on Tuesday, January 9th. Finally, UBS Group upgraded shares of FedEx from a “neutral” rating to a “buy” rating and upped their target price for the stock from $264.00 to $302.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $272.69.
FedEx Co. (FDX) opened at $240.32 on Wednesday. The firm has a market cap of $64,274.75, a P/E ratio of 19.52, a P/E/G ratio of 1.40 and a beta of 1.30. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 earnings per share. equities analysts expect that FedEx Co. will post 13.45 EPS for the current year.
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.
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