Arbor Wealth Management LLC Acquires 88 Shares of FedEx Co. (NYSE:FDX)

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Arbor Wealth Management LLC grew its position in FedEx Co. (NYSE:FDX) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,252 shares of the shipping service provider’s stock after purchasing an additional 88 shares during the period. Arbor Wealth Management LLC’s holdings in FedEx were worth $206,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FDX. Oregon Public Employees Retirement Fund boosted its stake in FedEx by 22.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after purchasing an additional 19,349 shares during the period. Regent Investment Management LLC lifted its position in shares of FedEx by 0.5% in the 2nd quarter. Regent Investment Management LLC now owns 18,864 shares of the shipping service provider’s stock worth $3,097,000 after acquiring an additional 95 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of FedEx by 3.3% in the 2nd quarter. Beech Hill Advisors Inc. now owns 3,150 shares of the shipping service provider’s stock worth $517,000 after acquiring an additional 100 shares during the period. Autus Asset Management LLC lifted its position in shares of FedEx by 25.6% in the 2nd quarter. Autus Asset Management LLC now owns 27,362 shares of the shipping service provider’s stock worth $4,492,000 after acquiring an additional 5,580 shares during the period. Finally, Spirit of America Management Corp NY lifted its position in shares of FedEx by 2.1% in the 2nd quarter. Spirit of America Management Corp NY now owns 7,185 shares of the shipping service provider’s stock worth $1,180,000 after acquiring an additional 150 shares during the period. 68.64% of the stock is currently owned by institutional investors.

Shares of NYSE:FDX opened at $152.82 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The stock has a market cap of $40.44 billion, a PE ratio of 9.85, a P/E/G ratio of 0.86 and a beta of 1.65. The business has a 50 day moving average of $165.00 and a 200-day moving average of $173.94. FedEx Co. has a 12-month low of $150.68 and a 12-month high of $259.25.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.08. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The business had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. During the same period in the previous year, the company posted $5.91 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 14.61 earnings per share for the current year.

In related news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $161.88, for a total value of $718,747.20. Following the transaction, the director now owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. TheStreet cut FedEx from a “b-” rating to a “c+” rating in a report on Thursday, June 6th. ValuEngine cut FedEx from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Stephens set a $210.00 price target on FedEx and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price target on FedEx from $184.00 to $172.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, Sanford C. Bernstein set a $205.00 target price on FedEx and gave the company a “buy” rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $191.63.

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: What is Compound Annual Growth Rate (CAGR)?

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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