Triangle Securities Wealth Management lifted its position in shares of FedEx Co. (NYSE:FDX) by 69.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,226 shares of the shipping service provider’s stock after acquiring an additional 1,730 shares during the quarter. Triangle Securities Wealth Management’s holdings in FedEx were worth $682,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Sound Income Strategies LLC lifted its stake in FedEx by 1,666.7% in the 4th 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 in the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of FedEx by 17.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock worth $68,000 after buying an additional 63 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of FedEx by 101.8% during the 4th quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after buying an additional 223 shares during the last quarter. Palo Capital Inc. acquired a new stake in shares of FedEx during the 3rd quarter worth approximately $108,000. Finally, Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of FedEx during the 3rd quarter worth approximately $110,000. 72.59% of the stock is currently owned by hedge funds and other institutional investors.
FDX traded down $4.13 on Friday, reaching $177.24. The company had a trading volume of 2,461,395 shares, compared to its average volume of 1,819,026. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $266.67. The stock has a market cap of $46.27 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.42 and a quick ratio of 1.36.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.05 by ($0.02). FedEx had a net margin of 7.23% and a return on equity of 24.11%. The company had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $17.71 billion. During the same period last year, the firm earned $3.18 earnings per share. As a group, equities analysts expect that FedEx Co. will post 15.92 EPS for the current fiscal year.
A number of brokerages have recently issued reports on FDX. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $226.00 price target for the company in a report on Tuesday, December 11th. Oppenheimer dropped their target price on shares of FedEx from $288.00 to $234.00 and set an “outperform” rating for the company in a report on Wednesday, December 19th. Daiwa Capital Markets set a $190.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Thursday, December 20th. Cowen reiterated an “outperform” rating and issued a $242.00 target price (down previously from $280.00) on shares of FedEx in a report on Wednesday, December 19th. Finally, UBS Group dropped their price target on shares of FedEx from $256.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $237.75.
In other FedEx news, VP John L. Merino sold 2,300 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Steiner purchased 7,000 shares of FedEx stock in a transaction on Wednesday, January 2nd. The stock was acquired at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the acquisition, the director now directly owns 25,994 shares of the company’s stock, valued at $4,234,942.48. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.
WARNING: “FedEx Co. (NYSE:FDX) Stake Raised by Triangle Securities Wealth Management” was first posted by Fairfield Current and is owned by of Fairfield Current. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.fairfieldcurrent.com/news/2019/02/10/fedex-co-fdx-position-increased-by-triangle-securities-wealth-management.html.
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: How Does the Quiet Period Work?
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.