Brandywine Global Investment Management LLC grew its position in FedEx Corporation (NYSE:FDX) by 18,938.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,316 shares of the shipping service provider’s stock after acquiring an additional 37,120 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in FedEx Corporation were worth $8,110,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Compton Capital Management Inc. RI raised its position in shares of FedEx Corporation by 1.5% during the first quarter. Compton Capital Management Inc. RI now owns 6,880 shares of the shipping service provider’s stock worth $1,343,000 after purchasing an additional 105 shares during the period. GHP Investment Advisors Inc. raised its position in FedEx Corporation by 3.0% during the first quarter. GHP Investment Advisors Inc. now owns 12,368 shares of the shipping service provider’s stock valued at $2,414,000 after buying an additional 363 shares during the period. Family Legacy Inc. acquired a new position in FedEx Corporation in the 1st quarter worth about $246,000. Keybank National Association OH increased its position in FedEx Corporation by 1.3% in the 1st quarter. Keybank National Association OH now owns 42,902 shares of the shipping service provider’s stock worth $8,372,000 after purchasing an additional 533 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in shares of FedEx Corporation by 76.5% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 49,564 shares of the shipping service provider’s stock worth $9,672,000 after acquiring an additional 21,489 shares in the last quarter. Hedge funds and other institutional investors own 76.27% of the company’s stock.
Shares of FedEx Corporation (NYSE FDX) opened at $218.15 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The company has a market cap of $58,306.04, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. FedEx Corporation has a one year low of $182.11 and a one year high of $231.35.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the business earned $2.90 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. equities research analysts forecast that FedEx Corporation will post 12.47 earnings per share for the current year.
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Several research firms have recently issued reports on FDX. Zacks Investment Research upgraded FedEx Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $236.00 price objective on shares of FedEx Corporation in a research report on Friday, October 20th. Cowen and Company reiterated an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research report on Friday, October 13th. J P Morgan Chase & Co increased their target price on FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, KeyCorp started coverage on FedEx Corporation in a report on Tuesday, October 10th. They issued an “overweight” rating and a $260.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. FedEx Corporation presently has an average rating of “Buy” and a consensus price target of $228.56.
In related news, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock valued at $9,024,637 over the last ninety days. 8.45% of the stock is currently owned by insiders.
FedEx Corporation Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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