As Mohawk Inds (MHK) Share Price Declined, Shareholder Global Thematic Partners Has Decreased Holding by $3.63 Million; Highfields Capital Management LP Has Decreased Its Fedex (FDX) Position as Stock Value Declined

April 21, 2018 - By Ellis Scott

Mohawk Industries, Inc. (NYSE:MHK) Logo

Jonathon Jacobson decreased its stake in Fedex Corp (FDX) by 57.81% based on its latest 2017Q4 regulatory filing with the SEC. Highfields Capital Management Lp sold 2.19M shares as the company’s stock declined 6.15% with the market. The hedge fund run by Jonathon Jacobson held 1.60 million shares of the air freight and delivery services company at the end of 2017Q4, valued at $399.14 million, down from 3.79 million at the end of the previous reported quarter. Highfields Capital Management Lp who had been investing in Fedex Corp for a number of months, seems to be less bullish one the $66.03B market cap company. The stock decreased 1.78% or $4.47 during the last trading session, reaching $247.12. About 1.51 million shares traded. FedEx Corporation (NYSE:FDX) has risen 25.45% since April 21, 2017 and is uptrending. It has outperformed by 13.90% the S&P500.

Global Thematic Partners Llc decreased its stake in Mohawk Inds Inc (MHK) by 5.83% based on its latest 2017Q4 regulatory filing with the SEC. Global Thematic Partners Llc sold 13,195 shares as the company’s stock declined 17.56% with the market. The institutional investor held 213,057 shares of the consumer durables company at the end of 2017Q4, valued at $58.78 million, down from 226,252 at the end of the previous reported quarter. Global Thematic Partners Llc who had been investing in Mohawk Inds Inc for a number of months, seems to be less bullish one the $17.56 billion market cap company. The stock decreased 2.24% or $5.41 during the last trading session, reaching $235.57. About 1.16 million shares traded or 51.83% up from the average. Mohawk Industries, Inc. (NYSE:MHK) has risen 0.12% since April 21, 2017 and is uptrending. It has underperformed by 11.43% the S&P500.

Global Thematic Partners Llc, which manages about $12.76B and $3.03 billion US Long portfolio, upped its stake in Comcast Corp New (NASDAQ:CMCSA) by 606,895 shares to 2.69 million shares, valued at $107.69 million in 2017Q4, according to the filing. It also increased its holding in Fortinet Inc (NASDAQ:FTNT) by 199,227 shares in the quarter, for a total of 1.38 million shares, and has risen its stake in Medidata Solutions Inc (NASDAQ:MDSO).

Investors sentiment increased to 1.13 in 2017 Q4. Its up 0.03, from 1.1 in 2017Q3. It increased, as 28 investors sold MHK shares while 181 reduced holdings. 74 funds opened positions while 163 raised stakes. 56.08 million shares or 0.46% more from 55.82 million shares in 2017Q3 were reported. Pub Employees Retirement Association Of Colorado holds 11,905 shares or 0.02% of its portfolio. Moreover, Twin Tree Limited Partnership has 0% invested in Mohawk Industries, Inc. (NYSE:MHK). 16,525 are held by Quantbot Technologies Lp. Moreover, Cibc Asset Mgmt has 0.01% invested in Mohawk Industries, Inc. (NYSE:MHK). Gsa Cap Limited Liability Partnership invested in 0.02% or 961 shares. Natl Bank Of Mellon Corp has 444,564 shares for 0.03% of their portfolio. Seabridge Invest Llc has 0.83% invested in Mohawk Industries, Inc. (NYSE:MHK). Ariel Invs Ltd Com, a Illinois-based fund reported 214,260 shares. Amf Pensionsforsakring owns 187,548 shares for 0.51% of their portfolio. Bancorp holds 2,693 shares. Wells Fargo & Communications Mn accumulated 1.01M shares. Viking Invsts LP reported 0.21% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). Westport Asset Mgmt stated it has 0.15% of its portfolio in Mohawk Industries, Inc. (NYSE:MHK). First Bancshares Of Hutchinson owns 2,966 shares or 0.48% of their US portfolio. Millennium Ltd Liability Corporation holds 0.02% or 45,053 shares.

Analysts await Mohawk Industries, Inc. (NYSE:MHK) to report earnings on April, 26 after the close. They expect $3.01 EPS, up 10.66% or $0.29 from last year’s $2.72 per share. MHK’s profit will be $224.35 million for 19.57 P/E if the $3.01 EPS becomes a reality. After $3.42 actual EPS reported by Mohawk Industries, Inc. for the previous quarter, Wall Street now forecasts -11.99% negative EPS growth.

Among 20 analysts covering Mohawk (NYSE:MHK), 16 have Buy rating, 0 Sell and 4 Hold. Therefore 80% are positive. Mohawk had 50 analyst reports since August 10, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of MHK in report on Monday, August 10 with “Outperform” rating. The firm has “Buy” rating by RBC Capital Markets given on Monday, July 24. The rating was maintained by RBC Capital Markets with “Buy” on Wednesday, September 6. Goldman Sachs initiated the shares of MHK in report on Tuesday, October 6 with “Buy” rating. The rating was initiated by Barclays Capital with “Overweight” on Friday, January 6. The firm earned “Buy” rating on Monday, October 9 by RBC Capital Markets. RBC Capital Markets maintained the shares of MHK in report on Tuesday, November 14 with “Buy” rating. The company was initiated on Tuesday, May 24 by Topeka Capital Markets. Stifel Nicolaus maintained Mohawk Industries, Inc. (NYSE:MHK) rating on Monday, August 10. Stifel Nicolaus has “Buy” rating and $225 target. Macquarie Research maintained Mohawk Industries, Inc. (NYSE:MHK) on Friday, December 16 with “Outperform” rating.

Since February 14, 2018, it had 1 buy, and 11 sales for $9.24 million activity. Shares for $654,250 were sold by Thiers Bernard on Friday, February 23. $214,996 worth of Mohawk Industries, Inc. (NYSE:MHK) was sold by Patton Rodney David. The insider Boykin Frank H sold 1,388 shares worth $344,580. RUNGE WILLIAM HENRY III bought $125,435 worth of stock or 500 shares. Shares for $2.19 million were sold by WELLBORN CHISTOPHER.

Among 37 analysts covering FedEx (NYSE:FDX), 26 have Buy rating, 1 Sell and 10 Hold. Therefore 70% are positive. FedEx had 116 analyst reports since August 14, 2015 according to SRatingsIntel. The stock has “Positive” rating by Susquehanna on Thursday, March 30. Credit Suisse maintained the stock with “Outperform” rating in Monday, December 14 report. The firm has “Outperform” rating by Cowen & Co given on Thursday, March 23. The rating was maintained by Cowen & Co on Friday, December 16 with “Outperform”. As per Thursday, March 17, the company rating was maintained by Citigroup. Stifel Nicolaus maintained FedEx Corporation (NYSE:FDX) rating on Wednesday, September 20. Stifel Nicolaus has “Hold” rating and $221.0 target. The rating was maintained by Stephens on Wednesday, March 21 with “Buy”. The stock of FedEx Corporation (NYSE:FDX) earned “Hold” rating by Zacks on Monday, August 24. As per Thursday, September 21, the company rating was maintained by Wells Fargo. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Stifel Nicolaus on Wednesday, March 21.

Since October 26, 2017, it had 1 insider buy, and 4 insider sales for $16.35 million activity. On Thursday, October 26 the insider Maier Henry J sold $2.55 million. SCHWAB SUSAN C also bought $19,837 worth of FedEx Corporation (NYSE:FDX) shares. WALSH PAUL S sold $1.12 million worth of FedEx Corporation (NYSE:FDX) on Wednesday, April 18. On Friday, January 5 the insider STEINER DAVID P sold $802,405.

Investors sentiment increased to 1.21 in Q4 2017. Its up 0.14, from 1.07 in 2017Q3. It increased, as 45 investors sold FDX shares while 366 reduced holdings. 137 funds opened positions while 361 raised stakes. 193.75 million shares or 3.04% less from 199.84 million shares in 2017Q3 were reported. Waters Parkerson Limited Liability Company owns 900 shares. Huntington Bankshares reported 58,585 shares stake. Plancorp Ltd stated it has 0.11% in FedEx Corporation (NYSE:FDX). Greenleaf Tru stated it has 0.01% of its portfolio in FedEx Corporation (NYSE:FDX). Callahan Lc stated it has 2.12% in FedEx Corporation (NYSE:FDX). 25 are held by Mcf Ltd Limited Liability Company. M&T National Bank & Trust holds 185,637 shares or 0.24% of its portfolio. Marble Harbor Investment Counsel Lc accumulated 1,200 shares. Hbk Sorce Advisory Ltd accumulated 2,290 shares. Confluence Wealth Mngmt Ltd Llc invested 0.51% in FedEx Corporation (NYSE:FDX). E&G Advisors Limited Partnership has 0.32% invested in FedEx Corporation (NYSE:FDX). Artisan Prtnrs LP invested in 1.20M shares. Sandy Spring Bancshares reported 3,550 shares stake. Todd Asset Management Ltd Company invested 0.64% in FedEx Corporation (NYSE:FDX). Suntrust Banks stated it has 47,022 shares or 0.06% of all its holdings.

Analysts await FedEx Corporation (NYSE:FDX) to report earnings on June, 19. They expect $5.72 EPS, up 34.59% or $1.47 from last year’s $4.25 per share. FDX’s profit will be $1.53B for 10.80 P/E if the $5.72 EPS becomes a reality. After $3.72 actual EPS reported by FedEx Corporation for the previous quarter, Wall Street now forecasts 53.76% EPS growth.

Highfields Capital Management Lp, which manages about $22.71B and $12.03B US Long portfolio, upped its stake in Parsley Energy Inc (NYSE:PE) by 1.53M shares to 2.03 million shares, valued at $59.70 million in 2017Q4, according to the filing. It also increased its holding in Time Warner Inc (NYSE:TWX) by 6.05 million shares in the quarter, for a total of 11.60M shares, and has risen its stake in Teva Pharmaceutical Inds Ltd (NYSE:TEVA).

Mohawk Industries, Inc. (NYSE:MHK) Institutional Positions Chart

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