Vantage Financial Partners Ltd. Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,050 shares of the shipping service provider’s stock after purchasing an additional 250 shares during the period. FedEx comprises about 0.8% of Vantage Financial Partners Ltd. Inc.’s investment portfolio, making the stock its 24th biggest position. Vantage Financial Partners Ltd. Inc.’s holdings in FedEx were worth $1,216,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FDX. North Star Asset Management Inc. raised its stake in shares of FedEx by 4.0% in the third quarter. North Star Asset Management Inc. now owns 38,811 shares of the shipping service provider’s stock worth $9,345,000 after acquiring an additional 1,510 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of FedEx by 3.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 60,766 shares of the shipping service provider’s stock worth $13,800,000 after acquiring an additional 2,253 shares during the last quarter. Bruderman Asset Management LLC raised its stake in shares of FedEx by 654.8% in the second quarter. Bruderman Asset Management LLC now owns 15,405 shares of the shipping service provider’s stock worth $3,498,000 after acquiring an additional 13,364 shares during the last quarter. Pensionfund Sabic bought a new position in shares of FedEx in the third quarter worth about $2,263,000. Finally, FormulaFolio Investments LLC raised its stake in shares of FedEx by 27.4% in the second quarter. FormulaFolio Investments LLC now owns 6,201 shares of the shipping service provider’s stock worth $1,408,000 after acquiring an additional 1,335 shares during the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed a “hold” rating and issued a $242.00 target price (down from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. Credit Suisse Group set a $307.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Finally, Berenberg Bank assumed coverage on shares of FedEx in a research note on Friday, September 21st. They issued a “buy” rating and a $300.00 target price for the company. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $284.86.
FedEx (NYSE:FDX) last issued its quarterly 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 business had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 17.35 earnings per share for the current fiscal year.
In related news, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the transaction, the director now owns 32,800 shares in the company, valued at $7,949,080. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Patricia Griffith acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by 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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