Legal & General Group Plc Decreases Holdings in FedEx Corporation $FDX

Legal & General Group Plc decreased its position in shares of FedEx Corporation (NYSE:FDX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439,809 shares of the shipping service provider’s stock after selling 43,831 shares during the quarter. Legal & General Group Plc’s holdings in FedEx were worth $415,903,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. Tucker Asset Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. ORG Partners LLC boosted its stake in shares of FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $31,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the business’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 transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 value of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Barclays restated a “buy” rating on shares of FedEx in a research report on Friday. HSBC upgraded FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price objective for the company in a research report on Friday, March 20th. Citigroup assumed coverage on FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective for the company. Finally, Stephens restated an “overweight” rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $399.62.

FedEx Trading Down 0.0%

Shares of FDX opened at $394.18 on Tuesday. The stock has a fifty day moving average of $371.88 and a two-hundred day moving average of $334.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $94.05 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.51 EPS. As a group, analysts forecast that FedEx Corporation will post 19.72 EPS for the current year.

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.