Lyell Wealth Management LP Sells 510 Shares of FedEx Co. (NYSE:FDX)

Lyell Wealth Management LP trimmed its position in FedEx Co. (NYSE:FDX) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,493 shares of the shipping service provider’s stock after selling 510 shares during the quarter. Lyell Wealth Management LP’s holdings in FedEx were worth $1,070,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Comerica Securities Inc. lifted its position in FedEx by 369.7% during the fourth quarter. Comerica Securities Inc. now owns 43,263 shares of the shipping service provider’s stock worth $6,986,000 after acquiring an additional 34,052 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of FedEx by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,374,522 shares of the shipping service provider’s stock worth $383,063,000 after purchasing an additional 418,451 shares during the period. Geode Capital Management LLC increased its holdings in shares of FedEx by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after purchasing an additional 185,252 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of FedEx during the first quarter worth approximately $587,000. Finally, Tealwood Asset Management Inc. increased its holdings in shares of FedEx by 25.2% during the first quarter. Tealwood Asset Management Inc. now owns 5,471 shares of the shipping service provider’s stock worth $992,000 after purchasing an additional 1,102 shares during the period. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on FDX. Raymond James lowered their target price on shares of FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Berenberg Bank set a $175.00 target price on shares of FedEx and gave the stock a “hold” rating in a report on Friday, June 28th. UBS Group set a $136.00 target price on shares of FedEx and gave the stock a “sell” rating in a report on Wednesday, June 26th. Citigroup lowered their target price on shares of FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Credit Suisse Group lowered their target price on shares of FedEx from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $191.63.

NYSE:FDX traded down $5.05 during mid-day trading on Wednesday, reaching $155.47. The stock had a trading volume of 76,118 shares, compared to its average volume of 2,117,675. The business has a 50-day simple moving average of $165.17. The stock has a market capitalization of $42.28 billion, a PE ratio of 9.98, a PEG ratio of 0.88 and a beta of 1.65. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. FedEx Co. has a 12 month low of $150.68 and a 12 month high of $259.25.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, topping 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 net margin of 0.77% and a return on equity of 21.57%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.91 earnings per share. Sell-side analysts expect that FedEx Co. will post 14.61 earnings per share for the current fiscal year.

In other news, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $161.88, for a total transaction of $718,747.20. Following the transaction, the director now owns 16,440 shares in the company, valued at $2,661,307.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of FedEx 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 transaction, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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