TD Asset Management Inc. Sells 2,941 Shares of FedEx Co. (FDX)

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TD Asset Management Inc. reduced its stake in FedEx Co. (NYSE:FDX) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 74,486 shares of the shipping service provider’s stock after selling 2,941 shares during the quarter. TD Asset Management Inc.’s holdings in FedEx were worth $12,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of FedEx by 2.2% during the third quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock worth $132,752,000 after purchasing an additional 11,798 shares during the last quarter. Focused Investors LLC bought a new position in FedEx in the fourth quarter worth about $66,774,000. Creative Planning lifted its holdings in FedEx by 16.0% in the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock worth $5,723,000 after acquiring an additional 4,901 shares during the last quarter. North Star Asset Management Inc. lifted its holdings in FedEx by 4.0% in the third quarter. North Star Asset Management Inc. now owns 38,811 shares of the shipping service provider’s stock worth $9,345,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in FedEx in the third quarter worth about $3,561,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $256.00 target price on shares of FedEx in a report on Tuesday, December 18th. Deutsche Bank cut their target price on shares of FedEx from $293.00 to $212.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Zacks Investment Research cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. UBS Group cut their target price on shares of FedEx from $256.00 to $205.00 and set a “neutral” rating on the stock in a report on Wednesday, December 19th. Finally, Credit Suisse Group cut their target price on shares of FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $237.75.

In other FedEx news, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction on Monday, February 4th. The shares were sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares of the company’s stock, valued at approximately $5,500,914.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Steiner bought 7,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The shares were bought at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the purchase, the director now directly owns 25,994 shares in the company, valued at $4,234,942.48. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

FedEx stock opened at $181.09 on Tuesday. FedEx Co. has a 52 week low of $150.94 and a 52 week high of $266.67. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.36. The company has a market capitalization of $47.27 billion, a P/E ratio of 11.83, a PEG ratio of 0.87 and a beta of 1.60.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). FedEx had a return on equity of 24.11% and a net margin of 7.23%. The firm had revenue of $17.82 billion during the quarter, compared to analyst estimates of $17.71 billion. During the same period in the prior year, the business posted $3.18 EPS. Equities analysts forecast that FedEx Co. will post 15.92 EPS for the current year.

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FedEx Company Profile

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.

Further Reading: What is the Coverage Ratio?

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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