Check Capital Management Inc. CA Sells 896 Shares of FedEx Co. (NYSE:FDX)

Check Capital Management Inc. CA reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund 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 investment portfolio, making the stock its 9th largest holding. Check Capital Management Inc. CA owned about 0.08% of FedEx worth $51,194,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC boosted its holdings in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC increased its position in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC raised its stake in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Raymond James decreased their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Performance

NYSE FDX opened at $292.28 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The business’s 50-day moving average price is $275.04 and its 200 day moving average price is $275.95. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $71.41 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.55 earnings per share. On average, research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

About FedEx

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.