FedEx Corporation $FDX Shares Sold by Huntington National Bank

Huntington National Bank reduced its holdings in shares of FedEx Corporation (NYSE:FDX) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,623 shares of the shipping service provider’s stock after selling 1,943 shares during the period. Huntington National Bank’s holdings in FedEx were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC increased its position in FedEx by 32.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 45,073 shares of the shipping service provider’s stock valued at $13,020,000 after buying an additional 11,136 shares in the last quarter. Geode Capital Management LLC increased its position in FedEx by 0.9% during the 4th 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. Fidelis Capital Partners LLC acquired a new position in FedEx during the 4th quarter valued at about $269,000. Knights of Columbus Asset Advisors LLC acquired a new position in FedEx during the 4th quarter valued at about $6,293,000. Finally, M3 Wealth Management LLC acquired a new position in FedEx during the 4th quarter valued at about $210,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. HSBC raised FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price objective on the stock in a report on Friday, March 20th. Truist Financial increased their price target on shares of FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Rothschild & Co Redburn increased their price target on shares of FedEx from $317.00 to $371.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Wells Fargo & Company upgraded shares of FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $400.69.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: JPMorgan upgraded FedEx to Overweight and lifted its price target to $460, signaling meaningful upside potential as the company approaches its freight separation. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
• Positive Sentiment: Analysts say the FedEx Freight spin-off could unlock more value for the parent company by sharpening its focus and improving operating clarity. FedEx spin-off could unlock more value for remaining business—JP Morgan
• Positive Sentiment: FedEx Freight is expected to begin trading as an independent company on June 1 and is set to join the S&P 500 quickly, which reinforces investor interest in the transaction. FedEx Spin-Off Gets Rare S&P 500 Fast Pass As Freight Unit Prepares To Trade
• Positive Sentiment: Additional bullish coverage highlighted FedEx as a buy ahead of the freight spin-off, adding to the momentum around the stock. FedEx is a buy as freight business spinoff approaches, JPMorgan says
• Neutral Sentiment: Index changes tied to the spin-off should keep FedEx in the Dow Jones Transportation Average while the new freight company is added separately, but this is more of a technical market adjustment than a direct business driver. FedEx Freight Holding Set to Join Dow Jones Transportation Average

FedEx Stock Down 0.0%

FedEx stock opened at $411.67 on Friday. The firm has a market cap of $98.23 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. FedEx Corporation has a 52 week low of $214.82 and a 52 week high of $413.70. The business’s 50-day moving average price is $375.15 and its 200 day moving average price is $337.51. 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 (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $4.51 earnings per share. As a group, sell-side analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 10,038 shares in the company, valued at approximately $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. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last three months. 0.53% of the stock is currently owned by insiders.

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.