Knights of Columbus Asset Advisors LLC purchased a new stake in FedEx Corporation (NYSE:FDX – Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,786 shares of the shipping service provider’s stock, valued at approximately $6,293,000.
A number of other hedge funds also recently made changes to their positions in FDX. Vanguard Group Inc. boosted its holdings in shares of FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the last quarter. Boston Partners acquired a new position in shares of FedEx in the 3rd quarter valued at $468,195,000. Dodge & Cox boosted its holdings in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of FedEx in the 3rd quarter valued at $171,960,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
Insider Buying and Selling at FedEx
In other news, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on FDX
FedEx Stock Performance
Shares of FDX stock opened at $411.29 on Thursday. The company’s fifty day simple moving average is $374.01 and its 200-day simple moving average is $336.46. FedEx Corporation has a 52 week low of $214.82 and a 52 week high of $413.70. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The company has a market cap of $98.14 billion, a PE ratio of 21.89, a P/E/G ratio of 1.52 and a beta of 1.29.
FedEx (NYSE:FDX – Get Free Report) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter last year, the firm posted $4.51 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current year.
Key FedEx News
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: JPMorgan upgraded FedEx to Overweight from Neutral and raised its price target to $460 from $432, saying the stock looks attractive ahead of a pivotal period for the logistics company. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
- Positive Sentiment: JPMorgan also said the planned freight spin-off could unlock shareholder value and improve transparency, reinforcing the bull case for the remaining FedEx business. FedEx spin-off could unlock more value for remaining business—J.P. Morgan
- Positive Sentiment: S&P announced that the FedEx Freight holding company will join the S&P 500, a development that can support index-related demand and highlights the significance of the separation. FedEx Freight Holding Company Set to Join S&P 500; EPAM Systems and Dave to Join S&P SmallCap 600
- Neutral Sentiment: Additional market commentary described FedEx as a long-term momentum stock, reflecting broader investor interest but offering no new fundamental catalyst. Why FedEx (FDX) is a Top Momentum Stock for the Long-Term
- Neutral Sentiment: FedEx also continued to receive positive press around its logistics footprint and brand, but these items are not major stock-moving news by themselves. Delivering History: FedEx Brings Millions of Years of the Past to the Present
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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