Avestar Capital LLC Acquires New Holdings in FedEx Corporation $FDX

Avestar Capital LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,515 shares of the shipping service provider’s stock, valued at approximately $439,000.

A number of other large investors have also added to or reduced their stakes in FDX. Diamond Hill Capital Management Inc. purchased a new stake in shares of FedEx in the third quarter worth approximately $171,960,000. Applied Finance Capital Management LLC purchased a new stake in shares of FedEx in the third quarter worth approximately $727,000. Sivia Capital Partners LLC purchased a new stake in shares of FedEx in the second quarter worth approximately $586,000. Franklin Resources Inc. raised its stake in shares of 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 purchasing an additional 269,567 shares during the last quarter. Finally, CWM LLC raised its stake in shares of FedEx by 32.2% in the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after purchasing an additional 26,322 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

More FedEx News

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

Insiders Place Their Bets

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 stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by corporate insiders.

FedEx Trading Up 1.1%

Shares of FDX stock opened at $331.59 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $341.14. The company has a market capitalization of $79.12 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.49 and a beta of 1.28. The business’s fifty day moving average is $373.71 and its 200 day moving average is $340.31.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $23.44 billion. During the same quarter last year, the business posted $4.51 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Rothschild & Co Redburn lowered their price objective on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays raised FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. Wall Street Zen raised FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday. Evercore lowered FedEx from an “outperform” rating to a “cautious” rating in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.41.

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.