Allstate Corp Buys 8,356 Shares of FedEx Corporation $FDX

Allstate Corp boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 106.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,226 shares of the shipping service provider’s stock after acquiring an additional 8,356 shares during the period. Allstate Corp’s holdings in FedEx were worth $4,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. Wealth Watch Advisors INC bought a new position in shares of FedEx in the 3rd quarter valued at $28,000. Ameriflex Group Inc. increased its stake in shares of FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in shares of FedEx in the 4th quarter valued at $29,000. Tucker Asset Management LLC bought a new position in shares of FedEx in the 4th quarter valued at $29,000. Finally, ORG Partners LLC increased its stake in shares of FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FDX shares. Morgan Stanley lifted their price target on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, March 20th. The Goldman Sachs Group lifted their price target on FedEx from $364.00 to $369.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Barclays reiterated a “buy” rating on shares of FedEx in a research note on Friday, May 22nd. Citigroup started coverage on FedEx in a research note on Thursday, May 21st. They issued a “buy” rating and a $443.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on FedEx from $430.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $399.62.

FedEx Stock Up 1.4%

Shares of FDX opened at $399.90 on Wednesday. The company has a market capitalization of $95.42 billion, a PE ratio of 21.28, a PEG ratio of 1.49 and a beta of 1.29. FedEx Corporation has a 12 month low of $214.82 and a 12 month high of $404.03. The stock’s 50-day moving average price is $372.83 and its two-hundred day moving average price is $335.39. 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 (NYSE:FDX) last announced 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 the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.51 EPS. On average, analysts anticipate that FedEx Corporation will post 19.72 EPS for the current year.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx is set to benefit from a broader rally in trucking, rail, and logistics names after WTI crude oil fell sharply, which can ease fuel costs and improve margins across the sector. Knight-Swift Transportation and Schneider Shares Skyrocket, What You Need To Know
• Positive Sentiment: Investor sentiment is also being supported by UBS reiterating a Buy rating and a $445 price target, arguing that FedEx’s sum-of-the-parts value could rise as the company prepares to spin off its freight business. FedEx sum-of-the-parts valuation points to upside as freight spin-off approaches, UBS says
• Positive Sentiment: FedEx is also advancing an international growth strategy by leading a consortium bid for InPost, a major European parcel locker and last-mile delivery operator, which could expand its e-commerce logistics footprint. FedEx InPost Bid Tests Growth Ambitions Valuation Gap And Debt Concerns
• Neutral Sentiment: Recent market coverage also noted FedEx outperformed the broader market in the latest session, reflecting steady momentum rather than a single major catalyst. FedEx (FDX) Laps the Stock Market: Here’s Why
• Negative Sentiment: The InPost bid could also raise investor concerns about valuation and additional debt if FedEx pursues a large overseas acquisition. FedEx InPost Bid Tests Growth Ambitions Valuation Gap And Debt Concerns

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 5,795 shares of the business’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 transaction, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. The trade was a 36.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last 90 days. 0.53% of the stock is owned by corporate insiders.

FedEx 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.