Blume Capital Management Inc. Acquires 8,058 Shares of FedEx Co. (NYSE:FDX)

Blume Capital Management Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 146.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,554 shares of the shipping service provider’s stock after buying an additional 8,058 shares during the quarter. Blume Capital Management Inc.’s holdings in FedEx were worth $2,225,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sageworth Trust Co acquired a new position in FedEx during the second quarter worth $25,000. Cordasco Financial Network boosted its stake in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new position in FedEx during the first quarter worth $29,000. Evolution Wealth Advisors LLC acquired a new position in FedEx during the first quarter worth $31,000. Finally, Endurance Wealth Management Inc. boosted its stake in FedEx by 375.0% during the first quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

NYSE:FDX opened at $152.82 on Friday. The firm has a market capitalization of $41.86 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The stock has a 50 day moving average of $165.00 and a 200-day moving average of $173.94. FedEx Co. has a 52 week low of $150.68 and a 52 week high of $259.25. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94.

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

In other news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the completion of the sale, the director now owns 16,440 shares in the company, valued at approximately $2,661,307.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following 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. Insiders own 8.50% of the company’s stock.

Several brokerages have recently commented on FDX. Sanford C. Bernstein set a $205.00 price target on FedEx and gave the company a “buy” rating in a research note on Thursday, June 20th. Loop Capital decreased their price target on FedEx from $262.00 to $220.00 in a research note on Wednesday, June 26th. Bank of America decreased their price target on FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Barclays reaffirmed a “buy” rating and issued a $185.00 price target on shares of FedEx in a research note on Thursday, June 13th. Finally, Goldman Sachs Group began coverage on FedEx in a research note on Wednesday, July 10th. They issued a “buy” rating and a $200.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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