Bank of New York Mellon Corp Has $580.24 Million Stake in FedEx Corporation $FDX

Bank of New York Mellon Corp boosted its holdings in shares of FedEx Corporation (NYSE:FDX) by 7.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,008,722 shares of the shipping service provider’s stock after purchasing an additional 145,831 shares during the period. Bank of New York Mellon Corp’s holdings in FedEx were worth $580,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Brighton Jones LLC boosted its position in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC boosted its position in shares of FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of FedEx in the 2nd quarter worth $586,000. Quantbot Technologies LP bought a new position in shares of FedEx in the 2nd quarter worth $186,000. Finally, Jump Financial LLC bought a new position in shares of FedEx in the 2nd quarter worth $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FedEx stock opened at $324.78 on Thursday. The firm has a market cap of $77.49 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.28. The stock’s 50-day moving average is $374.86 and its 200-day moving average is $339.94. FedEx Corporation has a one year low of $216.10 and a one year high of $413.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.51 earnings per share. Equities analysts predict that FedEx Corporation will post 19.63 earnings per share for the current fiscal year.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Several pieces of commentary argue the FedEx Freight spin-off could unlock value for FedEx by creating a leaner express/ground business with better margin expansion potential and higher returns on invested capital. FedEx Unboxes Billions in Post-Spinoff Value
• Positive Sentiment: FedEx is also expected to announce another dividend increase when it reports results on June 23, which could appeal to income-focused investors. Dear Dividend Investors, Mark Your Calendars for June 23
• Positive Sentiment: Goldman Sachs reiterated a Buy rating, and Bank of America said the spin-off could improve cost savings and buyback capacity at FedEx. FedEx (FDX) Receives a Buy from Goldman Sachs

Analyst Ratings Changes

Several research analysts have recently issued reports on FDX shares. TD Cowen raised 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. Wells Fargo & Company upgraded FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Barclays upgraded FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Bank of America reduced their target price on FedEx from $440.00 to $376.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Susquehanna lifted their target price on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a report on Friday, March 20th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $372.41.

Insider Transactions at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of FedEx 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 sale, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is currently owned by company 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.