Torch Wealth Management LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,880 shares of the shipping service provider’s stock after selling 210 shares during the period. Torch Wealth Management LLC’s holdings in FedEx were worth $1,433,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FDX. Dodge & Cox grew its position in FedEx by 20.0% in the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after acquiring an additional 2,065,853 shares during the last quarter. Capital International Investors bought a new position in FedEx in the 3rd quarter valued at $493,626,000. Packer & Co Ltd grew its position in FedEx by 595.0% in the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the shipping service provider’s stock valued at $28,779,000 after acquiring an additional 1,061,416 shares during the last quarter. Rehmann Capital Advisory Group grew its position in FedEx by 23,826.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 564,423 shares of the shipping service provider’s stock valued at $1,554,394,000 after acquiring an additional 562,064 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in FedEx by 177.4% in the 3rd quarter. Nordea Investment Management AB now owns 747,170 shares of the shipping service provider’s stock valued at $179,911,000 after acquiring an additional 477,821 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.
A number of equities analysts have recently issued reports on FDX shares. Berenberg Bank reissued a “buy” rating and set a $245.00 price target on shares of FedEx in a research report on Monday, January 7th. Morgan Stanley set a $240.00 price target on FedEx and gave the stock a “hold” rating in a research report on Monday, October 22nd. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. Credit Suisse Group dropped their price target on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. Finally, Robert W. Baird dropped their price target on FedEx from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $237.75.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $17.71 billion. During the same quarter in the previous year, the business earned $3.18 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 15.92 EPS for the current fiscal year.
In related 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 value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David P. Steiner acquired 7,000 shares of FedEx stock in a transaction that occurred on Wednesday, January 2nd. The stock was acquired at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the purchase, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.
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.
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