Rand Wealth LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,431 shares of the shipping service provider’s stock after selling 550 shares during the period. Rand Wealth LLC’s holdings in FedEx were worth $4,350,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Beach Investment Management LLC. purchased a new stake in FedEx in the 2nd quarter worth approximately $11,976,000. Sentry Investments Corp. grew its stake in FedEx by 13.6% in the 2nd quarter. Sentry Investments Corp. now owns 58,199 shares of the shipping service provider’s stock worth $12,648,000 after acquiring an additional 6,950 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in FedEx by 9.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 8,417 shares of the shipping service provider’s stock worth $1,829,000 after acquiring an additional 733 shares during the period. Swiss National Bank grew its stake in FedEx by 3.4% in the 2nd quarter. Swiss National Bank now owns 925,068 shares of the shipping service provider’s stock worth $201,045,000 after acquiring an additional 30,600 shares during the period. Finally, Providence First Trust Co purchased a new stake in FedEx in the 2nd quarter worth approximately $770,000. Institutional investors own 76.23% of the company’s stock.
Shares of FedEx Co. (NYSE FDX) opened at $251.15 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $274.66. The firm has a market cap of $67,020.62, a PE ratio of 23.15, a P/E/G ratio of 1.47 and a beta of 1.30.
Several analysts have recently issued reports on the stock. Loop Capital boosted their price objective on shares of FedEx to $318.00 in a research note on Thursday, January 4th. Oppenheimer reissued a “buy” rating and set a $236.00 price objective on shares of FedEx in a research note on Friday, October 20th. Citigroup boosted their price objective on shares of FedEx to $275.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Goldman Sachs Group assumed coverage on shares of FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price objective for the company. Finally, Wells Fargo & Co set a $275.00 price objective on shares of FedEx and gave the company a “buy” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. FedEx has an average rating of “Buy” and a consensus target price of $273.12.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,541 shares of company stock valued at $13,692,142. Insiders own 8.45% of the company’s stock.
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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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