FedEx (FDX) Stake Lowered by Proffitt & Goodson Inc.

Proffitt & Goodson Inc. decreased its position in FedEx (NYSE:FDX) by 8.5% during the first quarter, HoldingsChannel.com reports. The firm owned 3,463 shares of the shipping service provider’s stock after selling 323 shares during the quarter. Proffitt & Goodson Inc.’s holdings in FedEx were worth $832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FDX. Comerica Securities Inc. increased its position in FedEx by 26.3% during the first quarter. Comerica Securities Inc. now owns 9,197 shares of the shipping service provider’s stock worth $2,212,000 after acquiring an additional 1,916 shares during the period. Massey Quick Simon & CO. LLC increased its position in FedEx by 135.7% during the first quarter. Massey Quick Simon & CO. LLC now owns 1,247 shares of the shipping service provider’s stock worth $299,000 after acquiring an additional 718 shares during the period. Vicus Capital increased its position in FedEx by 21.0% during the first quarter. Vicus Capital now owns 4,930 shares of the shipping service provider’s stock worth $1,184,000 after acquiring an additional 854 shares during the period. Chicago Equity Partners LLC bought a new position in FedEx during the first quarter worth $505,000. Finally, Bradley Foster & Sargent Inc. CT increased its position in FedEx by 117.8% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 2,786 shares of the shipping service provider’s stock worth $669,000 after acquiring an additional 1,507 shares during the period. 75.21% of the stock is currently owned by institutional investors.

Shares of NYSE:FDX opened at $250.90 on Monday. The stock has a market cap of $67.21 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.30 and a beta of 1.39. FedEx has a 1-year low of $186.00 and a 1-year high of $274.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.37.



FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.61. The firm had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.35 EPS. sell-side analysts expect that FedEx will post 15.14 EPS for the current year.

FDX has been the topic of a number of research reports. JPMorgan Chase reaffirmed a “buy” rating and set a $315.00 target price on shares of FedEx in a research report on Monday, March 19th. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price target on the stock in a research note on Thursday, January 18th. Sanford C. Bernstein upgraded shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target on the stock in a research note on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating and set a $270.00 price target on shares of FedEx in a research note on Monday, February 12th. Finally, KeyCorp lifted their price target on shares of FedEx from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $281.51.

In other FedEx news, Director Paul S. Walsh sold 4,400 shares of the business’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the completion of the sale, the director now directly owns 14,400 shares of the company’s stock, valued at approximately $3,672,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick W. Smith sold 124,000 shares of the business’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total value of $31,742,760.00. Following the sale, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at $3,805,154,395.35. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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