Brick & Kyle Associates Acquires Shares of 10,101 FedEx Co. (FDX)

Brick & Kyle Associates acquired a new stake in FedEx Co. (NYSE:FDX) in the second quarter, Holdings Channel reports. The institutional investor acquired 10,101 shares of the shipping service provider’s stock, valued at approximately $2,294,000. FedEx makes up approximately 1.8% of Brick & Kyle Associates’ investment portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Roof Eidam & Maycock ADV grew its position in shares of FedEx by 4.4% in the first quarter. Roof Eidam & Maycock ADV now owns 4,981 shares of the shipping service provider’s stock valued at $1,196,000 after purchasing an additional 210 shares during the period. D.B. Root & Company LLC grew its position in shares of FedEx by 7.6% in the second quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock valued at $673,000 after purchasing an additional 210 shares during the period. SevenBridge Financial Group LLC grew its position in shares of FedEx by 4.9% in the first quarter. SevenBridge Financial Group LLC now owns 4,527 shares of the shipping service provider’s stock valued at $1,087,000 after purchasing an additional 213 shares during the period. NBT Bank N A NY grew its position in shares of FedEx by 15.1% in the first quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock valued at $393,000 after purchasing an additional 215 shares during the period. Finally, Elite Wealth Management Inc. grew its position in shares of FedEx by 8.1% in the first quarter. Elite Wealth Management Inc. now owns 2,975 shares of the shipping service provider’s stock valued at $714,000 after purchasing an additional 223 shares during the period. 74.06% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on FDX. UBS Group lowered shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 target price on the stock. in a research report on Monday, July 16th. Zacks Investment Research lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Citigroup lifted their target price on shares of FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, May 16th. Oppenheimer lifted their target price on shares of FedEx from $282.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, June 14th. Finally, Morgan Stanley dropped their target price on shares of FedEx from $248.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. FedEx has an average rating of “Buy” and an average target price of $283.75.

FDX opened at $246.25 on Friday. The stock has a market cap of $63.93 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. FedEx Co. has a twelve month low of $204.69 and a twelve month high of $274.66. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.19. The firm had revenue of $17.31 billion for the quarter, compared to analyst estimates of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. FedEx’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.25 earnings per share. equities analysts predict that FedEx Co. will post 17.31 EPS for the current year.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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