Gamble Jones Investment Counsel Sells 216 Shares of FedEx Co. (NYSE:FDX)

Gamble Jones Investment Counsel lessened its position in FedEx Co. (NYSE:FDX) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,248 shares of the shipping service provider’s stock after selling 216 shares during the quarter. Gamble Jones Investment Counsel’s holdings in FedEx were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Front Barnett Associates LLC raised its holdings in FedEx by 3.3% in the 3rd quarter. Front Barnett Associates LLC now owns 70,757 shares of the shipping service provider’s stock worth $10,300,000 after acquiring an additional 2,240 shares during the period. Thompson Investment Management Inc. raised its holdings in FedEx by 1.6% in the 3rd quarter. Thompson Investment Management Inc. now owns 31,195 shares of the shipping service provider’s stock worth $4,541,000 after acquiring an additional 484 shares during the period. Haverford Trust Co. raised its holdings in FedEx by 5.1% in the 3rd quarter. Haverford Trust Co. now owns 502,770 shares of the shipping service provider’s stock worth $73,188,000 after acquiring an additional 24,327 shares during the period. Daiwa Securities Group Inc. raised its holdings in FedEx by 6.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,487 shares of the shipping service provider’s stock worth $1,527,000 after acquiring an additional 657 shares during the period. Finally, Keeler Thomas Management LLC raised its holdings in FedEx by 27.5% in the 3rd quarter. Keeler Thomas Management LLC now owns 6,500 shares of the shipping service provider’s stock worth $960,000 after acquiring an additional 1,400 shares during the period. Hedge funds and other institutional investors own 71.33% of the company’s stock.

Several research analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of FedEx from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. set a $140.00 price objective on shares of FedEx and gave the stock a “neutral” rating in a report on Friday, October 4th. BMO Capital Markets downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $190.00 to $165.00 in a report on Wednesday, September 18th. Standpoint Research upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Raymond James dropped their price objective on shares of FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $170.40.

In other FedEx news, Director R Brad Martin bought 1,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $145.00 per share, for a total transaction of $145,000.00. Following the transaction, the director now owns 49,046 shares in the company, valued at $7,111,670. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson bought 5,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were acquired at an average price of $151.75 per share, for a total transaction of $758,750.00. Following the completion of the transaction, the director now owns 62,966 shares in the company, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by insiders.

Shares of FedEx stock traded down $0.70 during trading on Friday, hitting $163.22. 1,107,077 shares of the company’s stock traded hands, compared to its average volume of 2,585,977. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. The firm’s fifty day moving average price is $150.20 and its 200 day moving average price is $162.24. FedEx Co. has a twelve month low of $137.78 and a twelve month high of $234.49. The company has a market cap of $43.01 billion, a PE ratio of 10.52, a PEG ratio of 1.13 and a beta of 1.72.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The business had revenue of $17.05 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm posted $3.46 earnings per share. FedEx’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 12.11 earnings per share for the current year.

FedEx Profile

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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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