Parkside Investments LLC Sells 3,575 Shares of FedEx Corporation $FDX

Parkside Investments LLC lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 22.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,192 shares of the shipping service provider’s stock after selling 3,575 shares during the period. Parkside Investments LLC’s holdings in FedEx were worth $3,522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Wealth Watch Advisors INC bought a new position in shares of FedEx during the third quarter valued at approximately $28,000. Ameriflex Group Inc. grew its stake in FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares during the period. Ulland Investment Advisors LLC purchased a new stake in FedEx in the fourth quarter worth $29,000. Tucker Asset Management LLC purchased a new stake in FedEx in the fourth quarter worth $29,000. Finally, ORG Partners LLC grew its stake in FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 35 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.0%

NYSE FDX opened at $394.18 on Tuesday. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The stock has a market cap of $94.05 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.49 and a beta of 1.29. The stock’s fifty day moving average price is $371.88 and its 200-day moving average price is $334.37. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the prior year, the firm posted $4.51 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts forecast that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kawal Preet sold 4,900 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Citigroup assumed coverage on FedEx in a research note on Thursday, May 21st. They issued a “buy” rating and a $443.00 price target on the stock. Sanford C. Bernstein upped their price target on FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of FedEx in a research note on Tuesday, May 12th. Finally, Evercore upped their price target on FedEx from $364.00 to $380.00 in a research note on Tuesday, February 24th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.62.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.