BTC Capital Management Inc. Has $3.19 Million Stock Position in FedEx Co. (NYSE:FDX)

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BTC Capital Management Inc. increased its stake in shares of FedEx Co. (NYSE:FDX) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,863 shares of the shipping service provider’s stock after purchasing an additional 712 shares during the quarter. BTC Capital Management Inc.’s holdings in FedEx were worth $3,185,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FDX. Sageworth Trust Co bought a new position in shares of FedEx in the second quarter valued at approximately $25,000. CX Institutional bought a new position in shares of FedEx in the third quarter valued at approximately $29,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of FedEx in the second quarter valued at approximately $34,000. Accurate Investment Solutions Inc. raised its position in shares of FedEx by 125.0% in the third quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in shares of FedEx in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 71.33% of the company’s stock.

Shares of NYSE:FDX traded down $0.70 on Friday, hitting $163.22. The stock had a trading volume of 1,107,077 shares, compared to its average volume of 2,585,977. FedEx Co. has a twelve month low of $137.78 and a twelve month high of $234.49. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. The firm’s 50 day moving average price is $150.20 and its 200-day moving average price is $162.24. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.72.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion during the quarter, compared to analyst estimates of $17.05 billion. FedEx had a net margin of 0.65% and a return on equity of 21.15%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.46 EPS. As a group, sell-side analysts predict that FedEx Co. will post 12.11 EPS for the current year.

In related news, Director R Brad Martin purchased 1,000 shares of FedEx stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 49,046 shares in the company, valued at $7,111,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Edwardson purchased 5,000 shares of FedEx stock in a transaction that occurred on Thursday, October 31st. The shares were bought at an average price of $151.75 per share, for a total transaction of $758,750.00. Following the transaction, the director now owns 62,966 shares in the company, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is owned by corporate insiders.

A number of research firms have recently commented on FDX. Edward Jones lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th. Loop Capital dropped their price target on shares of FedEx to $200.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird dropped their target price on shares of FedEx from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 target price on the stock. in a research report on Wednesday, October 9th. Finally, DZ Bank reaffirmed a “sell” rating on shares of FedEx in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. FedEx has an average rating of “Hold” and an average price target of $170.40.

About FedEx

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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