FedEx Co. (NYSE:FDX) is Check Capital Management Inc. CA’s 9th Largest Position

Check Capital Management Inc. CA reduced its stake in shares of FedEx Co. (NYSE:FDX) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 187,056 shares of the shipping service provider’s stock after selling 896 shares during the period. FedEx makes up 1.6% of Check Capital Management Inc. CA’s holdings, making the stock its 9th biggest holding. Check Capital Management Inc. CA’s holdings in FedEx were worth $51,194,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter worth $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the second quarter worth $39,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. Citigroup boosted their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Friday, September 20th. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, TD Cowen reduced their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of NYSE FDX opened at $292.28 on Friday. The firm has a 50-day moving average of $275.04 and a two-hundred day moving average of $275.95. The company has a market capitalization of $71.41 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.17 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.