CCM Investment Advisers LLC lowered its stake in FedEx Co. (NYSE:FDX) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,278 shares of the shipping service provider’s stock after selling 829 shares during the quarter. FedEx accounts for about 1.9% of CCM Investment Advisers LLC’s portfolio, making the stock its 21st biggest holding. CCM Investment Advisers LLC’s holdings in FedEx were worth $10,420,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth $201,000. Osborn Williams & Donohoe LLC acquired a new stake in FedEx during the 2nd quarter worth $911,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in FedEx by 7.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,495 shares of the shipping service provider’s stock worth $2,383,000 after purchasing an additional 700 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in FedEx by 26.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 42,585 shares of the shipping service provider’s stock worth $9,668,000 after purchasing an additional 8,880 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in FedEx during the 2nd quarter worth $3,960,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $242.00 target price (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. Credit Suisse Group set a $307.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Finally, Berenberg Bank assumed coverage on shares of FedEx in a research note on Friday, September 21st. They set a “buy” rating and a $300.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $284.86.
NYSE FDX opened at $231.28 on Thursday. FedEx Co. has a 52 week low of $207.90 and a 52 week high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. The firm has a market cap of $59.76 billion, a PE ratio of 15.11, a P/E/G ratio of 1.02 and a beta of 1.36.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.35 earnings per share for the current fiscal year.
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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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