GFS Advisors LLC Raises Holdings in FedEx Co. (NYSE:FDX)

GFS Advisors LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 352.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,390 shares of the shipping service provider’s stock after buying an additional 36,910 shares during the period. FedEx comprises 2.2% of GFS Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. GFS Advisors LLC’s holdings in FedEx were worth $7,781,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Northern Trust Corp raised its stake in shares of FedEx by 1.4% during the 1st quarter. Northern Trust Corp now owns 2,898,010 shares of the shipping service provider’s stock worth $525,728,000 after buying an additional 38,692 shares in the last quarter. Greenhaven Associates Inc. increased its stake in FedEx by 0.7% in the 1st quarter. Greenhaven Associates Inc. now owns 2,749,967 shares of the shipping service provider’s stock valued at $498,872,000 after purchasing an additional 20,450 shares in the last quarter. Geode Capital Management LLC increased its stake in FedEx by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock valued at $442,149,000 after purchasing an additional 185,252 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in FedEx by 40.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after purchasing an additional 792,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in FedEx by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock valued at $383,063,000 after purchasing an additional 418,451 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the sale, the director now owns 16,440 shares in the company, valued at approximately $2,661,307.20. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

Shares of NYSE:FDX opened at $157.78 on Tuesday. The company’s fifty day moving average is $165.17. The firm has a market cap of $42.28 billion, a PE ratio of 10.17, a PEG ratio of 0.88 and a beta of 1.65. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. FedEx Co. has a one year low of $150.68 and a one year high of $259.25.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.08. The firm had revenue of $17.81 billion for the quarter, compared to analysts’ expectations of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. FedEx’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.91 EPS. As a group, equities analysts anticipate that FedEx Co. will post 14.61 EPS for the current year.

Several research firms recently weighed in on FDX. Barclays reaffirmed a “buy” rating and issued a $185.00 price objective on shares of FedEx in a research note on Thursday, June 13th. Goldman Sachs Group began coverage on FedEx in a research note on Wednesday, July 10th. They issued a “buy” rating and a $200.00 price objective for the company. Loop Capital dropped their price objective on FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Credit Suisse Group dropped their price objective on FedEx from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $191.63.

About FedEx

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.

Further Reading: Certificate of Deposit (CD)

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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