Confluence Wealth Management LLC cut its stake in FedEx Co. (NYSE:FDX) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,289 shares of the shipping service provider’s stock after selling 759 shares during the period. Confluence Wealth Management LLC’s holdings in FedEx were worth $1,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Krilogy Financial LLC raised 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 valued at $111,000 after acquiring an additional 2 shares in the last quarter. Salem Investment Counselors Inc. raised 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 valued at $104,000 after acquiring an additional 13 shares in the last quarter. RNC Capital Management LLC raised its holdings in FedEx by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after acquiring an additional 15 shares in the last quarter. High Falls Advisors Inc raised its holdings in FedEx by 2.1% in the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after acquiring an additional 23 shares in the last quarter. Finally, Sii Investments Inc. WI raised its holdings in FedEx by 1.3% in the second quarter. Sii Investments Inc. WI now owns 3,402 shares of the shipping service provider’s stock valued at $739,000 after acquiring an additional 45 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $270.00 price target on shares of FedEx in a report on Monday. Bank of America reissued a “buy” rating and set a $315.00 target price on shares of FedEx in a report on Friday, January 12th. Wells Fargo & Co set a $275.00 target price on shares of FedEx and gave the stock a “buy” rating in a report on Wednesday, December 20th. Oppenheimer reissued a “buy” rating and set a $265.00 target price (up from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Finally, Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $272.69.

FedEx Co. (NYSE FDX) opened at $240.82 on Thursday. The company has a market cap of $64,379.23, a PE ratio of 22.20, a PEG ratio of 1.40 and a beta of 1.30. 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 Co. has a 12-month low of $182.89 and a 12-month high of $274.66.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping the consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 earnings per share. research analysts expect that FedEx Co. will post 13.45 EPS for the current fiscal year.

In related news, Director David P. Steiner sold 3,016 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders have sold 53,541 shares of company stock valued at $13,692,142 in the last 90 days. Insiders own 8.45% of the company’s stock.

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FedEx 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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