FedEx Corporation $FDX Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in FedEx Corporation (NYSE:FDX) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,985,778 shares of the shipping service provider’s stock after acquiring an additional 45,818 shares during the quarter. Geode Capital Management LLC’s holdings in FedEx were worth $1,443,666,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC raised its holdings in FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after acquiring an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock valued at $84,000 after acquiring an additional 31 shares in the last quarter. Legacy Bridge LLC raised its holdings in FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock valued at $38,000 after acquiring an additional 33 shares in the last quarter. True Wealth Design LLC raised its holdings in FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock valued at $133,000 after acquiring an additional 35 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.0%

FDX stock opened at $411.67 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a twelve month low of $214.82 and a twelve month high of $413.70. The company’s 50 day moving average is $375.15 and its two-hundred day moving average is $337.51. The stock has a market cap of $98.23 billion, a P/E ratio of 21.91, a PEG ratio of 1.56 and a beta of 1.29.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter last year, the company earned $4.51 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts expect that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group assumed coverage on shares of FedEx in a report on Wednesday. They issued a “buy” rating and a $445.00 target price on the stock. Wolfe Research reduced their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets raised their target price on shares of FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a report on Friday, March 20th. Jefferies Financial Group raised their target price on shares of FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Stephens reissued an “overweight” rating and set a $435.00 price objective on shares of FedEx in a report on Tuesday, April 14th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $400.69.

FedEx News Summary

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

Insider Buying and Selling at FedEx

In other news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 48,104 shares of company stock valued at $17,599,006. 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.