Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $14.59 Million Stock Position in FedEx Corporation $FDX

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in FedEx Corporation (NYSE:FDX) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,494 shares of the shipping service provider’s stock after selling 1,622 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in FedEx were worth $14,586,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Savant Capital LLC grew its position in shares of FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock worth $9,437,000 after buying an additional 9,806 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $171,960,000. Applied Finance Capital Management LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $727,000. Sivia Capital Partners LLC acquired a new position in shares of FedEx in the 2nd quarter valued at approximately $586,000. Finally, Franklin Resources Inc. grew its position in shares of FedEx by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after purchasing an additional 269,567 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 17.8%

FDX stock opened at $338.33 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $80.73 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.57 and a beta of 1.28. The business’s fifty day moving average price is $376.08 and its two-hundred day moving average price is $339.12. FedEx Corporation has a fifty-two week low of $214.82 and a fifty-two week high of $413.87.

FedEx (NYSE:FDX) last released its 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. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the prior year, the firm posted $4.51 EPS. FedEx’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that FedEx Corporation will post 19.63 earnings per share for the current year.

Insider Activity

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the firm’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 completion of the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Argus upped their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. HSBC reduced their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday. TD Cowen upped their price target on FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Weiss Ratings upgraded FedEx from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $395.53.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s launch as an independent company could unlock value, with management saying the LTL carrier can invest more aggressively in growth and target a 15% operating margin by 2029. FedEx Freight CEO says the spinoff will help the company ‘leapfrog’ competitors
• Positive Sentiment: FedEx Freight began trading on the NYSE as FDXF and joined major indexes, which may support investor interest in the newly listed business and reinforce the strategic rationale for the separation. FedEx Freight Completes Spinoff, Joins S&P 500, Dow Jones Transport Indexes
• Neutral Sentiment: Several analysts lowered price targets on FedEx after the spin-off, including BMO, HSBC, and Goldman Sachs, reflecting more cautious expectations for the parent’s post-separation valuation. BMO Capital adjusts FedEx price target to 340 from 410
• Neutral Sentiment: FedEx still has support from some analysts, with Goldman Sachs maintaining a buy rating even after trimming its target, suggesting the stock may still have upside if the restructuring improves margins and capital allocation. Goldman Sachs adjusts price target on FedEx to 375 from 405
• Negative Sentiment: The biggest reason FDX is down today is mechanical and structural: the Freight unit was spun off, so FedEx is now a smaller company and some investors are reassessing its earnings base and valuation after the separation. FedEx Completes Spin-Off of FedEx Freight

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.