Oppenheimer & Co. Inc. Grows Holdings in FedEx Co. (FDX)
Oppenheimer & Co. Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,256 shares of the shipping service provider’s stock after acquiring an additional 1,079 shares during the period. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $4,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares during the period. FMR LLC boosted its holdings in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares during the period. Ameriprise Financial Inc. boosted its holdings in FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after purchasing an additional 266,660 shares during the period. Jennison Associates LLC boosted its holdings in FedEx by 47.4% in the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock worth $920,226,000 after purchasing an additional 1,185,447 shares during the period. Finally, Capital World Investors boosted its holdings in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Co. (NYSE FDX) opened at $239.93 on Tuesday. FedEx Co. has a one year low of $182.89 and a one year high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market cap of $63,039.78, a PE ratio of 22.11, a P/E/G ratio of 1.37 and a beta of 1.30.
In related news, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the sale, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,541 shares of company stock worth $13,692,142. Company insiders own 8.45% of the company’s stock.
A number of equities analysts have commented on FDX shares. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Oppenheimer reissued a “buy” rating and set a $236.00 price target on shares of FedEx in a report on Friday, October 20th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. Sanford C. Bernstein set a $212.00 price target on shares of FedEx and gave the company a “hold” rating in a report on Wednesday, November 15th. Finally, Barclays reissued an “overweight” rating and set a $270.00 price target (up previously from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $272.69.
FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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