PNC Financial Services Group Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 13.0% in the first quarter, HoldingsChannel reports. The firm owned 84,519 shares of the shipping service provider’s stock after selling 12,664 shares during the period. PNC Financial Services Group Inc.’s holdings in FedEx were worth $10,250,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Utah Retirement Systems grew its holdings in FedEx by 0.4% in the fourth quarter. Utah Retirement Systems now owns 45,987 shares of the shipping service provider’s stock worth $6,953,000 after purchasing an additional 200 shares during the period. Watchman Group Inc. acquired a new stake in FedEx in the fourth quarter worth $2,310,000. Sailer Financial LLC acquired a new stake in FedEx in the fourth quarter worth $353,000. Brighton Jones LLC grew its holdings in FedEx by 4.4% in the fourth quarter. Brighton Jones LLC now owns 1,635 shares of the shipping service provider’s stock worth $247,000 after purchasing an additional 69 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in FedEx by 35.0% in the fourth quarter. Dupont Capital Management Corp now owns 6,479 shares of the shipping service provider’s stock worth $980,000 after purchasing an additional 1,679 shares during the period. Institutional investors and hedge funds own 72.37% of the company’s stock.
In related news, Director John A. Edwardson acquired 5,000 shares of the stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $111.06 per share, with a total value of $555,300.00. Following the completion of the transaction, the director now owns 82,966 shares in the company, valued at approximately $9,214,203.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 18,829 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $110.49, for a total transaction of $2,080,416.21. Following the completion of the sale, the executive vice president now directly owns 201,050 shares in the company, valued at approximately $22,214,014.50. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.
Shares of FDX stock opened at $117.00 on Friday. The firm has a market cap of $30.24 billion, a price-to-earnings ratio of -84.17, a P/E/G ratio of 1.06 and a beta of 1.32. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.16 and a current ratio of 1.21. FedEx Co. has a 52 week low of $88.69 and a 52 week high of $178.50. The firm’s 50-day simple moving average is $118.69 and its two-hundred day simple moving average is $140.72.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 17th. The shipping service provider reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $17.49 billion for the quarter, compared to analyst estimates of $16.89 billion. FedEx had a negative net margin of 0.50% and a positive return on equity of 17.05%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.03 earnings per share. Analysts forecast that FedEx Co. will post 9.07 earnings per share for the current year.
A number of research firms have commented on FDX. JPMorgan Chase & Co. restated a “neutral” rating and issued a $115.00 price target on shares of FedEx in a report on Friday, March 13th. Deutsche Bank reduced their price objective on shares of FedEx from $142.00 to $128.00 and set a “hold” rating for the company in a report on Monday, May 11th. Oppenheimer reiterated a “hold” rating on shares of FedEx in a report on Wednesday, May 6th. Stifel Nicolaus reduced their price objective on shares of FedEx from $136.00 to $120.00 in a report on Wednesday, March 18th. Finally, Stephens reduced their price objective on shares of FedEx from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $148.00.
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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