Financial Architects Inc Increases Holdings in FedEx Co. (NYSE:FDX)
Financial Architects Inc raised its holdings in FedEx Co. (NYSE:FDX) by 90.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,600 shares of the shipping service provider’s stock after buying an additional 760 shares during the quarter. Financial Architects Inc’s holdings in FedEx were worth $194,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Wedbush Securities Inc. boosted its position in shares of FedEx by 11.0% during the fourth quarter. Wedbush Securities Inc. now owns 6,673 shares of the shipping service provider’s stock valued at $1,009,000 after purchasing an additional 663 shares in the last quarter. Altium Wealth Management LLC raised its stake in shares of FedEx by 10.1% in the fourth quarter. Altium Wealth Management LLC now owns 1,690 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 155 shares during the last quarter. Manchester Financial Inc. purchased a new stake in FedEx during the fourth quarter valued at $29,000. GFS Advisors LLC grew its holdings in FedEx by 5.2% during the fourth quarter. GFS Advisors LLC now owns 63,815 shares of the shipping service provider’s stock valued at $9,649,000 after purchasing an additional 3,175 shares during the period. Finally, Garner Asset Management Corp boosted its stake in shares of FedEx by 7.5% in the fourth quarter. Garner Asset Management Corp now owns 5,055 shares of the shipping service provider’s stock worth $764,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 72.96% of the company’s stock.
A number of equities analysts recently commented on FDX shares. Credit Suisse Group dropped their price target on FedEx from $159.00 to $121.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. Raymond James dropped their price target on FedEx from $167.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. Deutsche Bank decreased their price objective on FedEx from $142.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Morgan Stanley decreased their price objective on FedEx from $109.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 18th. Finally, Stephens decreased their price objective on FedEx from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $148.00.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 17th. The shipping service provider reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The company had revenue of $17.49 billion for the quarter, compared to analysts’ expectations of $16.89 billion. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. FedEx’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 earnings per share. On average, sell-side analysts anticipate that FedEx Co. will post 9.25 earnings per share for the current fiscal year.
In other FedEx news, Director John A. Edwardson acquired 5,000 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $111.06 per share, with a total value of $555,300.00. Following the transaction, the director now directly owns 82,966 shares of the company’s stock, valued at $9,214,203.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 18,829 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $110.49, for a total value of $2,080,416.21. Following the completion of the sale, the executive vice president now directly owns 201,050 shares of the company’s stock, valued at approximately $22,214,014.50. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by company insiders.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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