Sentry Investment Management LLC decreased its stake in FedEx Co. (NYSE:FDX) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,718 shares of the shipping service provider’s stock after selling 5,662 shares during the period. Sentry Investment Management LLC’s holdings in FedEx were worth $2,581,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Bank of Montreal Can bought a new position in shares of FedEx in the 2nd quarter valued at about $216,966,000. PNC Financial Services Group Inc. grew its holdings in shares of FedEx by 209.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 419,755 shares of the shipping service provider’s stock valued at $95,309,000 after acquiring an additional 284,134 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of FedEx in the 2nd quarter valued at about $62,966,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of FedEx in the 2nd quarter valued at about $58,442,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of FedEx by 23,047.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 240,736 shares of the shipping service provider’s stock valued at $1,049,000 after acquiring an additional 239,696 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.
In other news, Director Susan Patricia Griffith acquired 1,000 shares of FedEx stock in a transaction dated Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction that occurred on 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 owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.
FedEx stock opened at $224.40 on Friday. FedEx Co. has a 52 week low of $207.90 and a 52 week high of $274.66. The stock has a market cap of $60.95 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The company’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 17.35 EPS for the current year.
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FedEx Company 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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