LLBH Private Wealth Management LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) in the first quarter, Holdings Channel reports. The institutional investor acquired 1,167 shares of the shipping service provider’s stock, valued at approximately $212,000.
Several other large investors have also recently modified their holdings of FDX. Oregon Public Employees Retirement Fund boosted its holdings in shares of FedEx by 15,104.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after acquiring an additional 13,970,642 shares during the period. Norges Bank bought a new stake in shares of FedEx during the fourth quarter worth approximately $303,958,000. LSV Asset Management boosted its holdings in shares of FedEx by 39.7% during the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock worth $360,441,000 after acquiring an additional 564,452 shares during the period. Lakewood Capital Management LP boosted its holdings in shares of FedEx by 102.8% during the fourth quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock worth $152,166,000 after acquiring an additional 478,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of FedEx by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after acquiring an additional 418,451 shares during the period. Institutional investors own 70.48% of the company’s stock.
Shares of FDX stock opened at $159.93 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The company has a market capitalization of $41.67 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.85 and a beta of 1.62. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $266.67.
In other FedEx news, Director Susan C. Schwab sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders have sold 185,650 shares of company stock valued at $34,751,470 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.
A number of equities research analysts have recently issued reports on FDX shares. Cowen restated an “outperform” rating and set a $237.00 price objective (down previously from $242.00) on shares of FedEx in a report on Thursday, March 14th. Raymond James reduced their price objective on FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Barclays cut their price target on FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Finally, KeyCorp cut their price target on FedEx from $240.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and an average price target of $212.33.
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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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