Fox Run Management L.L.C. Has $292,000 Position in FedEx Co. (FDX)

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Fox Run Management L.L.C. lessened its position in FedEx Co. (NYSE:FDX) by 52.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,211 shares of the shipping service provider’s stock after selling 1,358 shares during the period. Fox Run Management L.L.C.’s holdings in FedEx were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FDX. D.B. Root & Company LLC grew its position in FedEx by 7.6% in the 2nd quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock valued at $673,000 after buying an additional 210 shares in the last quarter. NBT Bank N A NY grew its position in FedEx by 15.1% in the 1st quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock valued at $393,000 after buying an additional 215 shares in the last quarter. Advisory Services Network LLC grew its position in FedEx by 4.6% in the 2nd quarter. Advisory Services Network LLC now owns 5,237 shares of the shipping service provider’s stock valued at $1,263,000 after buying an additional 230 shares in the last quarter. Covenant Asset Management LLC grew its position in FedEx by 3.3% in the 2nd quarter. Covenant Asset Management LLC now owns 7,250 shares of the shipping service provider’s stock valued at $1,646,000 after buying an additional 234 shares in the last quarter. Finally, Murphy Capital Management Inc. grew its position in FedEx by 1.3% in the 2nd quarter. Murphy Capital Management Inc. now owns 18,844 shares of the shipping service provider’s stock valued at $4,278,000 after buying an additional 240 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of FDX opened at $221.00 on Friday. FedEx Co. has a one year low of $214.17 and a one year high of $274.66. The stock has a market capitalization of $63.45 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.09 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last announced its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 17.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, September 7th. FedEx’s payout ratio is 16.98%.

Several research firms have recently weighed in on FDX. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Berenberg Bank began coverage on shares of FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 price objective for the company. Morgan Stanley restated a “hold” rating and set a $242.00 price objective (down previously from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. JPMorgan Chase & Co. restated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Finally, Wolfe Research set a $275.00 price objective on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. FedEx currently has an average rating of “Buy” and an average price target of $285.27.

In other FedEx news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the transaction, the director now directly owns 32,800 shares in the company, valued at $7,949,080. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

FedEx Profile

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: NASDAQ

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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