Forsta AP Fonden decreased its position in shares of FedEx Corporation (NYSE:FDX – Free Report) by 5.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,500 shares of the shipping service provider’s stock after selling 2,500 shares during the quarter. Forsta AP Fonden’s holdings in FedEx were worth $12,854,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares in the last quarter. Dodge & Cox increased its holdings in shares of FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after buying an additional 1,742,666 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after buying an additional 45,818 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after buying an additional 269,567 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after buying an additional 108,426 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on FDX. Evercore cut FedEx from an “outperform” rating to a “cautious” rating in a report on Wednesday. Wall Street Zen cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 12th. Weiss Ratings raised FedEx from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Barclays raised FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $400.69.
Insider Activity
In other news, EVP Gina F. Adams sold 20,450 shares of the business’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 transaction, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. The trade was a 51.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last 90 days. Company insiders own 0.53% of the company’s stock.
FedEx News Summary
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: FedEx Freight’s spinoff is set to go live on June 1, and Wall Street commentary suggests the separation could unlock value for FedEx’s remaining business by sharpening its focus and simplifying the investment case. FedEx Freight (FDXF) Spinoff Goes Live June 1: Everything You Need to Know
- Positive Sentiment: JPMorgan reportedly turned constructive on FedEx ahead of the spinoff, saying the transaction could unlock more value for the parent company and supporting the stock as a buy idea. FedEx is a buy as freight business spinoff approaches, JPMorgan says
- Positive Sentiment: The new FedEx Freight company is expected to join major indexes quickly, including the S&P 500 and Dow Jones Transportation Average, which could create automatic index-related demand for the spun-off shares and reinforce investor attention on the separation. FedEx Freight Holding Set to Join Dow Jones Transportation Average
- Neutral Sentiment: Market coverage is also highlighting upcoming earnings and valuation debate around FedEx, with investors weighing whether the stock’s recent momentum can continue after the corporate restructuring.
FedEx Price Performance
Shares of NYSE:FDX opened at $412.11 on Monday. The company’s fifty day moving average is $376.41 and its two-hundred day moving average is $338.62. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 12-month low of $214.82 and a 12-month high of $413.87. The company has a market cap of $98.33 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.
FedEx (NYSE:FDX – Get Free Report) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same period in the previous year, the business earned $4.51 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts expect that FedEx Corporation will post 19.63 earnings per share for the current fiscal year.
FedEx Profile
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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