NewEdge Wealth LLC lifted its stake in shares of FedEx Corporation (NYSE:FDX – Free Report) by 39.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,539 shares of the shipping service provider’s stock after purchasing an additional 1,566 shares during the quarter. NewEdge Wealth LLC’s holdings in FedEx were worth $1,600,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter worth approximately $29,000. ORG Partners LLC raised its holdings in FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 35 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in FedEx during the fourth quarter worth $31,000. Grey Fox Wealth Advisors LLC acquired a new stake in FedEx in the third quarter valued at $27,000. Finally, Wealth Watch Advisors INC acquired a new stake in FedEx in the third quarter valued at $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on FDX shares. Wall Street Zen downgraded FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 12th. Stephens reissued an “overweight” rating and issued a $435.00 price objective on shares of FedEx in a research note on Tuesday, April 14th. Sanford C. Bernstein lifted their target price on shares of FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Argus upped their price target on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, Wells Fargo & Company increased their price target on shares of FedEx from $430.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $398.04.
Insiders Place Their Bets
In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’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 sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.
FedEx Trading Down 1.8%
Shares of FDX stock opened at $369.50 on Thursday. The company has a market capitalization of $88.17 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.43 and a beta of 1.29. 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 firm has a 50-day moving average price of $369.26 and a 200 day moving average price of $326.86. FedEx Corporation has a twelve month low of $214.35 and a twelve month high of $404.03.
FedEx (NYSE:FDX – Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm’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 EPS. Research analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s payout ratio is presently 30.87%.
Key Stories Impacting FedEx
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: FedEx’s board approved the spin-off of its FedEx Freight unit, a move that should sharpen the company’s focus on its higher-margin package and air network businesses and could unlock value for shareholders. FedEx Board of Directors Approves Spin-off of FedEx Freight
- Positive Sentiment: The company set the distribution ratio for the freight spinoff at one FedEx Freight share for every two FedEx shares held, and the new Freight entity is expected to begin trading on June 1, giving investors clearer visibility into the transaction timeline. FedEx sets one-for-two share ratio for freight unit spinoff
- Neutral Sentiment: FedEx management said Amazon’s new logistics offering is not a major threat to its business, suggesting the company believes its network and services remain differentiated. FedEx Boss Dismisses Threat From New Amazon Logistics Service
- Neutral Sentiment: Analysts at JPMorgan kept a neutral view on FDX, while Barclays reportedly reiterated a buy rating, indicating Wall Street remains mixed but generally constructive on the stock after the restructuring news. FedEx (NYSE:FDX) Receives “Neutral” Rating from JPMorgan Chase & Co.
- Negative Sentiment: The stock was also described as sliding in the latest session, reflecting some profit-taking or caution even as the broader market rose. FedEx (FDX) Stock Slides as Market Rises: Facts to Know Before You Trade
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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