TCW Group Inc. Trims Position in FedEx Co. (FDX)

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TCW Group Inc. lowered its holdings in FedEx Co. (NYSE:FDX) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,635 shares of the shipping service provider’s stock after selling 7,839 shares during the quarter. TCW Group Inc.’s holdings in FedEx were worth $13,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Bank of Montreal Can acquired a new stake in FedEx in the 2nd quarter valued at $216,966,000. PNC Financial Services Group Inc. boosted its holdings in FedEx by 209.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 419,755 shares of the shipping service provider’s stock worth $95,309,000 after acquiring an additional 284,134 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in FedEx during the 2nd quarter worth $62,966,000. Chevy Chase Trust Holdings Inc. purchased a new position in FedEx during the 2nd quarter worth $58,442,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in FedEx by 23,047.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 240,736 shares of the shipping service provider’s stock worth $1,049,000 after acquiring an additional 239,696 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

In related news, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the sale, the director now directly owns 32,800 shares in the company, valued at approximately $7,949,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 17th. The stock was purchased at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Insiders own 8.45% of the company’s stock.

FDX has been the topic of a number of analyst reports. UBS Group downgraded shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective on the stock. in a report on Monday, July 16th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Morgan Stanley reaffirmed a “hold” rating and set a $242.00 price objective (down from $245.00) on shares of FedEx in a report on Tuesday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $305.00 price objective on shares of FedEx in a report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $285.18.

NYSE FDX opened at $220.34 on Thursday. The firm has a market cap of $57.06 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44. FedEx Co. has a one year low of $207.90 and a one year high of $274.66. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last released its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). The business had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.65 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 17.35 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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