Coe Capital Management LLC Invests $933,000 in FedEx Co. (FDX) Stock
Coe Capital Management LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,785 shares of the shipping service provider’s stock, valued at approximately $933,000. FedEx accounts for about 1.1% of Coe Capital Management LLC’s investment portfolio, making the stock its 29th largest holding.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Wealth Management LLC lifted its stake in FedEx by 842.1% during the fourth quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its stake in FedEx by 1,666.7% during the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in FedEx by 17.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock worth $68,000 after purchasing an additional 63 shares during the last quarter. North Star Investment Management Corp. lifted its stake in FedEx by 101.8% during the fourth quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 223 shares during the last quarter. Finally, Palo Capital Inc. bought a new position in FedEx during the third quarter worth $108,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Several equities analysts recently issued reports on FDX shares. Loop Capital reduced their price objective on FedEx to $262.00 in a research note on Wednesday, December 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $256.00 target price on shares of FedEx in a research report on Tuesday, December 18th. Deutsche Bank dropped their target price on FedEx from $293.00 to $212.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Zacks Investment Research raised FedEx from a “hold” rating to a “buy” rating and set a $226.00 target price on the stock in a research report on Tuesday, December 11th. Finally, Citigroup dropped their target price on FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and a consensus price target of $237.75.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same period last year, the business posted $3.18 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 15.92 EPS for the current fiscal year.
In other news, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the transaction, the vice president now directly owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Steiner purchased 7,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were acquired at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the acquisition, the director now directly owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.
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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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