Thompson Siegel & Walmsley LLC grew its position in shares of FedEx Corporation (NYSE:FDX – Free Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,971 shares of the shipping service provider’s stock after acquiring an additional 9,035 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in FedEx were worth $13,279,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Brighton Jones LLC lifted its holdings in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the period. Empowered Funds LLC lifted its holdings in FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new stake in FedEx in the second quarter worth about $586,000. Quantbot Technologies LP acquired a new stake in FedEx in the second quarter worth about $186,000. Finally, Jump Financial LLC acquired a new stake in FedEx in the second quarter worth about $456,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
FedEx Price Performance
Shares of FedEx stock opened at $412.11 on Monday. 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’s 50-day moving average price is $376.41 and its two-hundred day moving average price is $338.62. FedEx Corporation has a 52 week low of $214.82 and a 52 week high of $413.87. The stock has a market cap of $98.33 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.
Insider Buying and Selling at FedEx
In other FedEx news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 in the last ninety days. 0.53% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Raymond James Financial upped their price objective on shares of FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Seaport Research Partners assumed coverage on shares of FedEx in a report on Wednesday. They issued a “buy” rating for the company. Argus upped their price objective on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Finally, Sanford C. Bernstein upped their price objective on shares of FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.69.
View Our Latest Research Report on FedEx
Key Headlines Impacting FedEx
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 Company 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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