Great Lakes Advisors LLC Has $3.79 Million Position in FedEx Co. (NYSE:FDX)

Great Lakes Advisors LLC boosted its stake in FedEx Co. (NYSE:FDXFree Report) by 78.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,980 shares of the shipping service provider’s stock after purchasing an additional 6,577 shares during the quarter. Great Lakes Advisors LLC’s holdings in FedEx were worth $3,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Western Wealth Management LLC lifted its stake in shares of FedEx by 10.0% in the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock valued at $925,000 after buying an additional 333 shares in the last quarter. Trust Point Inc. acquired a new position in FedEx during the 4th quarter valued at about $282,000. Planned Solutions Inc. bought a new stake in FedEx during the 4th quarter worth approximately $32,000. Skba Capital Management LLC raised its stake in shares of FedEx by 0.3% in the third quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock worth $10,417,000 after purchasing an additional 100 shares during the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of FedEx by 173.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock valued at $1,928,000 after purchasing an additional 4,831 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FDX. Bank of America lowered their price target on FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Stifel Nicolaus decreased their price target on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. Finally, UBS Group lifted their target price on FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $301.33.

Get Our Latest Stock Analysis on FedEx

FedEx Stock Down 0.6 %

FDX stock opened at $257.25 on Monday. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The firm has a market capitalization of $63.30 billion, a PE ratio of 14.84, a PEG ratio of 1.21 and a beta of 1.23. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $267.12 and a two-hundred day simple moving average of $256.66.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the company earned $3.41 earnings per share. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 17.7 EPS for the current fiscal year.

FedEx announced that its board has authorized a share buyback program on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the completion of the transaction, the chief executive officer now directly owns 11,147 shares in the company, valued at $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Profile

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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