Natixis Advisors LLC increased its holdings in FedEx Corporation (NYSE:FDX – Free Report) by 35.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,795 shares of the shipping service provider’s stock after acquiring an additional 41,548 shares during the quarter. Natixis Advisors LLC owned about 0.07% of FedEx worth $45,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. Savant Capital LLC increased its stake in FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock valued at $9,437,000 after purchasing an additional 9,806 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in FedEx in the third quarter worth about $171,960,000. Applied Finance Capital Management LLC purchased a new position in FedEx in the third quarter worth about $727,000. Sivia Capital Partners LLC purchased a new position in FedEx in the second quarter worth about $586,000. Finally, Franklin Resources Inc. raised its holdings in FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after buying an additional 269,567 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.
FedEx Stock Down 1.3%
FDX opened at $324.78 on Thursday. The firm’s 50 day simple moving average is $374.86 and its two-hundred day simple moving average is $339.94. The company has a market capitalization of $77.49 billion, a PE ratio of 17.28, a PEG ratio of 1.11 and a beta of 1.28. FedEx Corporation has a 1-year low of $216.10 and a 1-year high of $413.87. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.
Insider Buying and Selling
In other news, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the sale, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on FDX shares. HSBC decreased their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday. UBS Group started coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating and a $445.00 target price for the company. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Rothschild & Co Redburn decreased their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Bank of America decreased their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a report on Tuesday. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.41.
Get Our Latest Stock Report on FedEx
Key Stories Impacting FedEx
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: Several pieces of commentary argue the FedEx Freight spin-off could unlock value for FedEx by creating a leaner express/ground business with better margin expansion potential and higher returns on invested capital. FedEx Unboxes Billions in Post-Spinoff Value
- Positive Sentiment: FedEx is also expected to announce another dividend increase when it reports results on June 23, which could appeal to income-focused investors. Dear Dividend Investors, Mark Your Calendars for June 23
- Positive Sentiment: Goldman Sachs reiterated a Buy rating, and Bank of America said the spin-off could improve cost savings and buyback capacity at FedEx. FedEx (FDX) Receives a Buy from Goldman Sachs
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.
Further Reading
- Five stocks we like better than FedEx
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
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