FedEx Co. (FDX) Holdings Lifted by Bessemer Group Inc.
Bessemer Group Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 25.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,662 shares of the shipping service provider’s stock after buying an additional 1,145 shares during the quarter. Bessemer Group Inc.’s holdings in FedEx were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Beach Investment Management LLC. bought a new stake in shares of FedEx during the second quarter worth $11,976,000. NBT Bank N A NY lifted its position in shares of FedEx by 5.2% during the second quarter. NBT Bank N A NY now owns 1,785 shares of the shipping service provider’s stock worth $387,000 after purchasing an additional 88 shares during the last quarter. Commerce Bank lifted its position in shares of FedEx by 4.1% during the second quarter. Commerce Bank now owns 24,720 shares of the shipping service provider’s stock worth $5,372,000 after purchasing an additional 963 shares during the last quarter. Covington Investment Advisors Inc. lifted its position in shares of FedEx by 0.5% during the second quarter. Covington Investment Advisors Inc. now owns 20,657 shares of the shipping service provider’s stock worth $4,489,000 after purchasing an additional 100 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of FedEx during the second quarter worth $2,388,000. 76.23% of the stock is owned by institutional investors.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the transaction, the executive vice president now owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock worth $13,692,142 in the last quarter. 8.45% of the stock is owned by insiders.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. equities research analysts expect that FedEx Co. will post 13.38 EPS for the current fiscal year.
Several analysts have recently weighed in on FDX shares. Stephens set a $306.00 target price on FedEx and gave the stock a “buy” rating in a research report on Wednesday, December 20th. JPMorgan Chase & Co. lifted their target price on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Goldman Sachs Group started coverage on FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 target price for the company. Citigroup reiterated a “buy” rating and set a $280.00 target price on shares of FedEx in a research report on Wednesday, December 20th. Finally, Robert W. Baird restated a “buy” rating and issued a $280.00 price objective on shares of FedEx in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. FedEx has an average rating of “Buy” and a consensus target price of $273.12.
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FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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