Sigma Planning Corp Raises Stake in FedEx Co. (FDX)
Sigma Planning Corp lifted its position in FedEx Co. (NYSE:FDX) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,573 shares of the shipping service provider’s stock after purchasing an additional 555 shares during the quarter. Sigma Planning Corp’s holdings in FedEx were worth $1,141,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of FDX. Jennison Associates LLC increased its holdings in shares of FedEx by 47.4% in the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock worth $920,226,000 after purchasing an additional 1,185,447 shares during the last quarter. Janus Henderson Group PLC increased its stake in FedEx by 381.6% during the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after acquiring an additional 699,728 shares during the last quarter. Jackson Square Partners LLC increased its stake in FedEx by 28.7% during the second quarter. Jackson Square Partners LLC now owns 2,905,839 shares of the shipping service provider’s stock worth $631,525,000 after acquiring an additional 647,401 shares during the last quarter. Winslow Capital Management LLC bought a new stake in FedEx during the second quarter worth approximately $138,993,000. Finally, TIAA CREF Investment Management LLC increased its stake in FedEx by 41.1% during the second quarter. TIAA CREF Investment Management LLC now owns 1,969,884 shares of the shipping service provider’s stock worth $428,115,000 after acquiring an additional 573,392 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the sale, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,541 shares of company stock worth $13,692,142. 8.45% of the stock is owned by corporate insiders.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same period in the prior year, the company earned $2.80 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. equities research analysts anticipate that FedEx Co. will post 13.45 EPS for the current year.
Several brokerages have weighed in on FDX. Oppenheimer reissued a “buy” rating and set a $265.00 price objective (up from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. BMO Capital Markets reissued a “buy” rating and set a $300.00 price objective on shares of FedEx in a research note on Monday, January 8th. Sanford C. Bernstein set a $212.00 price objective on FedEx and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Finally, Bank of America reissued a “buy” rating and set a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $272.69.
COPYRIGHT VIOLATION WARNING: “Sigma Planning Corp Raises Stake in FedEx Co. (FDX)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.thecerbatgem.com/2018/02/14/sigma-planning-corp-raises-stake-in-fedex-co-fdx.html.
FedEx Company Profile
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.
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).
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.