Progressive Investment Management Corp boosted its position in shares of FedEx Co. (NYSE:FDX) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,307 shares of the shipping service provider’s stock after purchasing an additional 85 shares during the period. Progressive Investment Management Corp’s holdings in FedEx were worth $2,958,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. HC Financial Advisors Inc. grew its position in shares of FedEx by 5.9% during the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock valued at $2,007,000 after acquiring an additional 464 shares during the period. Vanguard Group Inc boosted its holdings in FedEx by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after buying an additional 96,084 shares during the period. FNY Investment Advisers LLC boosted its holdings in FedEx by 150.0% in the 4th quarter. FNY Investment Advisers LLC now owns 725 shares of the shipping service provider’s stock worth $116,000 after buying an additional 435 shares during the period. Intact Investment Management Inc. purchased a new stake in FedEx in the 4th quarter worth $403,000. Finally, Donald L. Hagan LLC lifted its stake in FedEx by 46.2% in the 4th quarter. Donald L. Hagan LLC now owns 9,917 shares of the shipping service provider’s stock worth $1,600,000 after purchasing an additional 3,133 shares in the last quarter. Institutional investors own 70.48% of the company’s stock.
In related news, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total transaction of $525,330.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,650 shares of company stock worth $34,751,470. Insiders own 8.50% of the company’s stock.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. FedEx’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.72 earnings per share. As a group, equities research analysts expect that FedEx Co. will post 15.44 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on FDX. UBS Group cut shares of FedEx from a “neutral” rating to a “sell” rating and decreased their target price for the company from $171.00 to $161.00 in a research report on Friday, April 26th. Credit Suisse Group restated a “buy” rating and issued a $241.00 target price on shares of FedEx in a research note on Monday, April 1st. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. KeyCorp dropped their price objective on shares of FedEx from $240.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Finally, Barclays dropped their price objective on shares of FedEx from $235.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $212.33.
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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