FedEx Co. (FDX) Holdings Lessened by Csenge Advisory Group

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Csenge Advisory Group trimmed its holdings in FedEx Co. (NYSE:FDX) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,171 shares of the shipping service provider’s stock after selling 205 shares during the period. Csenge Advisory Group’s holdings in FedEx were worth $212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in shares of FedEx by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 808 shares of the shipping service provider’s stock valued at $146,000 after acquiring an additional 54 shares during the last quarter. Nachman Norwood & Parrott Inc increased its holdings in shares of FedEx by 1.0% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 5,385 shares of the shipping service provider’s stock valued at $980,000 after acquiring an additional 55 shares during the last quarter. Associated Banc Corp increased its holdings in shares of FedEx by 3.7% in the 1st quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock valued at $298,000 after acquiring an additional 59 shares during the last quarter. Elite Wealth Management Inc. increased its holdings in shares of FedEx by 1.9% in the 4th quarter. Elite Wealth Management Inc. now owns 3,191 shares of the shipping service provider’s stock valued at $515,000 after acquiring an additional 61 shares during the last quarter. Finally, Traynor Capital Management Inc. increased its holdings in shares of FedEx by 1.2% in the 1st quarter. Traynor Capital Management Inc. now owns 5,317 shares of the shipping service provider’s stock valued at $964,000 after acquiring an additional 61 shares during the last quarter. 70.48% of the stock is currently owned by institutional investors.

In other news, CEO Frederick W. Smith sold 155,650 shares of the 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 completion of the transaction, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The disclosure for this sale can be found here. In the last three months, insiders sold 185,650 shares of company stock valued at $34,751,470. Company insiders own 8.50% of the company’s stock.

A number of research analysts recently commented on FDX shares. Cowen restated an “outperform” rating and set a $237.00 price objective (down from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Raymond James lowered their price objective on FedEx from $235.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Barclays lowered their price objective 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 lowered their price objective 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and an average target price of $212.33.

NYSE:FDX opened at $160.59 on Friday. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $266.67. The firm has a market capitalization of $43.77 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.62. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the company posted $3.72 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx Co. will post 15.44 earnings per share for the current year.

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FedEx 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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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