44 Wealth Management LLC Takes Position in FedEx Corporation $FDX

44 Wealth Management LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,838 shares of the shipping service provider’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of FedEx by 13.2% during the 3rd 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. Dodge & Cox increased its position in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after buying an additional 1,742,666 shares during the period. Franklin Resources Inc. increased its position in FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after buying an additional 269,567 shares during the period. Invesco Ltd. increased its position in FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after buying an additional 108,426 shares during the period. Finally, AQR Capital Management LLC increased its position in FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after buying an additional 1,718,278 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 0.0%

Shares of FDX stock opened at $394.18 on Monday. The stock has a 50-day simple moving average of $371.05 and a 200 day simple moving average of $333.38. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The stock has a market capitalization of $94.05 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.49 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.47 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 earnings per share for the quarter, beating 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 analysts’ expectations of $23.44 billion. During the same quarter last year, the business posted $4.51 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In related news, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the firm’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 transaction, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,104 shares of company stock worth $17,599,006. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FDX. UBS Group lowered their price target on FedEx from $446.00 to $445.00 and set a “buy” rating on the stock in a report on Friday. Stephens reissued an “overweight” rating and set a $435.00 price target on shares of FedEx in a report on Tuesday, April 14th. TD Cowen raised their price target on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. Rothschild & Co Redburn raised their price target on FedEx from $317.00 to $371.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, Stifel Nicolaus raised their price target on FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $399.62.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Barclays reaffirmed its Buy rating on FedEx, and Citi also initiated/maintained a bullish stance with a $443 price target, reinforcing expectations for further upside. FedEx Barclays reiterates its buy rating
• Positive Sentiment: UBS said FedEx has potential upside from margin improvement, suggesting profitability trends could support a higher valuation. FedEx Facing Potential Upside Backed by Margin Improvement, UBS Securities Says
• Positive Sentiment: FedEx-led consortium’s $9 billion bid for InPost is moving forward, with the tender offer window opening May 26, signaling continued strategic expansion in European parcel logistics. FedEx-Led $9 Billion Buyout Offer Window For Polish Parcel Firm InPost Opens May-End
• Positive Sentiment: FedEx is also among large U.S. companies seeking tariff refunds, which could provide a modest cash-flow benefit if successful. Trump said he’d ‘remember’ companies that didn’t apply for tariff refunds. Many of them are anyway
• Neutral Sentiment: Analyst and value-stock commentary continues to frame FedEx as a long-term market favorite, but these articles are mostly supportive rather than catalysts on their own. What Are Wall Street Analysts’ Target Price for FedEx Stock?

About FedEx

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.