Argent Trust Co Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Argent Trust Co lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,136 shares of the shipping service provider’s stock after selling 164 shares during the period. Argent Trust Co’s holdings in FedEx were worth $4,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bartlett & Co. LLC boosted its holdings in FedEx by 1.0% during the first quarter. Bartlett & Co. LLC now owns 168,748 shares of the shipping service provider’s stock worth $47,931,000 after buying an additional 1,716 shares in the last quarter. The PNC Financial Services Group Inc. boosted its holdings in FedEx by 6.6% during the first quarter. The PNC Financial Services Group Inc. now owns 82,104 shares of the shipping service provider’s stock worth $23,320,000 after buying an additional 5,098 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in FedEx by 2.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 102,600 shares of the shipping service provider’s stock worth $29,255,000 after buying an additional 2,600 shares in the last quarter. Bray Capital Advisors lifted its holdings in shares of FedEx by 6.3% in the first quarter. Bray Capital Advisors now owns 6,142 shares of the shipping service provider’s stock valued at $1,745,000 after purchasing an additional 362 shares in the last quarter. Finally, Paloma Partners Management Co lifted its holdings in shares of FedEx by 2,928.2% in the fourth quarter. Paloma Partners Management Co now owns 41,698 shares of the shipping service provider’s stock valued at $10,826,000 after purchasing an additional 40,321 shares in the last quarter. 71.98% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP John L. Merino sold 10,000 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $273.30, for a total value of $2,733,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael C. Lenz sold 4,700 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $315.97, for a total value of $1,485,059.00. Following the completion of the transaction, the executive vice president now owns 15,646 shares in the company, valued at approximately $4,943,666.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,773 shares of company stock worth $53,374,869. Insiders own 8.49% of the company’s stock.

Several analysts have issued reports on FDX shares. UBS Group reaffirmed a “buy” rating and issued a $383.00 price target on shares of FedEx in a report on Friday, March 19th. Sanford C. Bernstein set a $324.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, February 24th. Wolfe Research raised shares of FedEx from a “peer perform” rating to an “outperform” rating in a research note on Monday, May 3rd. KeyCorp upped their price objective on shares of FedEx from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 26th. Finally, Wells Fargo & Company upped their price objective on shares of FedEx from $336.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, May 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. FedEx presently has an average rating of “Buy” and a consensus price target of $318.33.

Shares of FedEx stock traded up $1.40 during trading hours on Friday, hitting $294.24. The company’s stock had a trading volume of 56,574 shares, compared to its average volume of 2,306,741. FedEx Co. has a 1-year low of $127.29 and a 1-year high of $319.90. The firm has a fifty day moving average price of $297.67. The firm has a market cap of $78.07 billion, a P/E ratio of 25.94, a PEG ratio of 1.24 and a beta of 1.25. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 1.04.

FedEx (NYSE:FDX) last released its quarterly earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.21 by $0.26. FedEx had a net margin of 3.85% and a return on equity of 20.74%. The business had revenue of $21.51 billion during the quarter, compared to analyst estimates of $19.90 billion. During the same period last year, the business earned $1.41 EPS. The business’s revenue was up 23.0% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 18.07 EPS for the current year.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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