Meridian Management Co. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 8,579 shares of the shipping service provider’s stock after selling 270 shares during the period. Meridian Management Co.’s holdings in FedEx were worth $2,141,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. boosted its position in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of FedEx in the 4th quarter worth about $125,000. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx in the 3rd quarter worth about $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of FedEx in the 3rd quarter worth about $136,000. Institutional investors own 76.23% of the company’s stock.
Shares of FedEx Co. (NYSE FDX) opened at $235.32 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $274.66. The stock has a market capitalization of $64,097.94, a PE ratio of 21.69, a PEG ratio of 1.40 and a beta of 1.30.
In other news, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, 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. Insiders have sold a total of 53,541 shares of company stock valued at $13,692,142 in the last quarter. Company insiders own 8.45% of the company’s stock.
FDX has been the topic of several recent research reports. Cowen reiterated an “outperform” rating and issued a $240.00 price objective on shares of FedEx in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Oppenheimer reissued a “buy” rating and issued a $236.00 target price on shares of FedEx in a research note on Friday, October 20th. Goldman Sachs Group began coverage on shares of FedEx in a research note on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Sanford C. Bernstein set a $212.00 target price on shares of FedEx and gave the company a “hold” rating in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $273.12.
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FedEx 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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