Raab & Moskowitz Asset Management LLC lowered its stake in FedEx Corporation (NYSE:FDX) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,435 shares of the shipping service provider’s stock after selling 31 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in FedEx Corporation were worth $495,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Greenwood Gearhart Inc. raised its holdings in shares of FedEx Corporation by 0.6% during the second quarter. Greenwood Gearhart Inc. now owns 32,605 shares of the shipping service provider’s stock worth $7,086,000 after purchasing an additional 195 shares during the last quarter. Covington Capital Management acquired a new stake in shares of FedEx Corporation in the second quarter valued at about $454,000. Colony Group LLC acquired a new stake in shares of FedEx Corporation in the second quarter valued at about $542,000. GRATRY & Co LLC acquired a new stake in shares of FedEx Corporation in the second quarter valued at about $269,000. Finally, High Falls Advisors Inc grew its position in shares of FedEx Corporation by 2.1% in the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after purchasing an additional 23 shares during the period. 76.22% of the stock is owned by institutional investors and hedge funds.
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Several research firms have recently weighed in on FDX. Vetr raised shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price target on the stock in a research note on Tuesday, July 18th. BidaskClub downgraded shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Credit Suisse Group reaffirmed a “buy” rating and set a $237.00 target price on shares of FedEx Corporation in a research note on Monday, August 7th. Cowen and Company reaffirmed a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a research note on Thursday, August 10th. Finally, Stifel Nicolaus reaffirmed a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $230.21.
FedEx Corporation (FDX) opened at $221.43 on Tuesday. The company has a market cap of $58,496.42, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. FedEx Corporation has a 12-month low of $182.75 and a 12-month high of $231.35.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS. sell-side analysts expect that FedEx Corporation will post 12.47 earnings per share for the current year.
In other news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is owned by insiders.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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