Bleakley Financial Group LLC Grows Stake in FedEx Corporation $FDX

Bleakley Financial Group LLC grew its position in shares of FedEx Corporation (NYSE:FDX) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,178 shares of the shipping service provider’s stock after purchasing an additional 1,737 shares during the period. Bleakley Financial Group LLC’s holdings in FedEx were worth $3,518,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ulland Investment Advisors LLC purchased a new position in shares of FedEx during the 4th quarter valued at $29,000. Tucker Asset Management LLC purchased a new position in FedEx in the fourth quarter worth $29,000. ORG Partners LLC grew its position in FedEx by 50.0% in the fourth 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 position in FedEx in the fourth quarter worth $31,000. Finally, Wealth Watch Advisors INC purchased a new position in FedEx in the third quarter worth $28,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FDX shares. BMO Capital Markets upped their target price on shares of FedEx from $400.00 to $410.00 and gave the stock a “market perform” rating in a research report on Friday, March 20th. HSBC upgraded shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 target price for the company in a research report on Friday, March 20th. Stifel Nicolaus upped their target price on shares of FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Susquehanna upped their target price on shares of FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. Finally, Morgan Stanley upped their target price on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $400.69.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: JPMorgan upgraded FedEx to Overweight from Neutral and raised its price target to $460 from $432, saying the stock looks attractive ahead of a pivotal period for the logistics company. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
• Positive Sentiment: JPMorgan also said the planned freight spin-off could unlock shareholder value and improve transparency, reinforcing the bull case for the remaining FedEx business. FedEx spin-off could unlock more value for remaining business—J.P. Morgan
• Positive Sentiment: S&P announced that the FedEx Freight holding company will join the S&P 500, a development that can support index-related demand and highlights the significance of the separation. FedEx Freight Holding Company Set to Join S&P 500; EPAM Systems and Dave to Join S&P SmallCap 600
• Neutral Sentiment: Additional market commentary described FedEx as a long-term momentum stock, reflecting broader investor interest but offering no new fundamental catalyst. Why FedEx (FDX) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: FedEx also continued to receive positive press around its logistics footprint and brand, but these items are not major stock-moving news by themselves. Delivering History: FedEx Brings Millions of Years of the Past to the Present

FedEx Stock Performance

FedEx stock opened at $411.29 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $98.14 billion, a PE ratio of 21.89, a P/E/G ratio of 1.52 and a beta of 1.29. The firm has a fifty day simple moving average of $374.01 and a two-hundred day simple moving average of $336.46. FedEx Corporation has a twelve month low of $214.82 and a twelve month high of $413.70.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $4.51 earnings per share. Research analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.

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.