BI Asset Management Fondsmaeglerselskab A S Reduces Stake in FedEx Corporation $FDX

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 49.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,126 shares of the shipping service provider’s stock after selling 16,852 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in FedEx were worth $4,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of FedEx in the fourth quarter valued at approximately $859,085,000. Vanguard Group Inc. grew its stake in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after acquiring an additional 2,741,723 shares in the last quarter. Boston Partners bought a new stake in FedEx during the 3rd quarter worth approximately $468,195,000. Dodge & Cox lifted its stake in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on FDX. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $432.00 to $460.00 in a research report on Wednesday, May 27th. Stifel Nicolaus lifted their price objective on FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Weiss Ratings cut FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Wolfe Research decreased their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Seaport Research Partners initiated coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating on the stock. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.41.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s debut as a separate company drew fresh analyst coverage and upbeat commentary, with some observers calling it a potential “true winner” and a catalyst for value creation at FedEx. FedEx Freight Stock (FDXF) Soars on Fresh Analyst Coverage
• Positive Sentiment: Analysts and market commentators said the spinoff may help FedEx streamline operations and fully launch its Network 2.0 initiative, which could improve margins and long-term earnings power. Is FedEx a Buy Following Its FedEx Freight Spinoff?
• Positive Sentiment: Jim Cramer highlighted the new breakup of FedEx as a long-awaited move that could be viewed favorably by investors looking for a cleaner, more focused company structure. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
• Neutral Sentiment: FedEx has recently outperformed some industrial peers, but commentary remains mixed, with valuation concerns and conflicting analyst views keeping enthusiasm in check. FedEx Stock: Is FDX Outperforming the Industrial Sector?
• Negative Sentiment: One FreightWaves report said a FedEx partner airline may face service risk on Caribbean routes without an FAA waiver, which could raise operational uncertainty for parts of the cargo network. FedEx partner airline says Caribbean service at risk without FAA waiver

FedEx Price Performance

FDX opened at $331.59 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $79.12 billion, a P/E ratio of 17.65, a PEG ratio of 1.51 and a beta of 1.28. The stock has a 50-day moving average price of $373.71 and a 200-day moving average price of $340.84. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $341.14.

FedEx (NYSE:FDX) last issued 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 business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the firm earned $4.51 earnings per share. FedEx’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

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.