Capital Group Private Client Services Inc. Sells 2,055 Shares of FedEx Corporation $FDX

Capital Group Private Client Services Inc. trimmed its position in shares of FedEx Corporation (NYSE:FDX) by 12.6% during the 4th quarter, HoldingsChannel reports. The fund owned 14,309 shares of the shipping service provider’s stock after selling 2,055 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in FedEx were worth $4,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. OneAscent Financial Services LLC raised its stake in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after purchasing an additional 29 shares in the last quarter. LRI Investments LLC boosted its stake in FedEx by 5.2% during the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock worth $183,000 after buying an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in FedEx by 11.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock valued at $84,000 after buying an additional 31 shares during the period. Legacy Bridge LLC increased its holdings in FedEx by 33.0% in the 4th quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock valued at $38,000 after buying an additional 33 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of FedEx by 8.2% in the 4th quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock valued at $133,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx News Roundup

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

Analysts Set New Price Targets

A number of research firms have recently commented on FDX. Rothschild & Co Redburn reduced their price objective on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Barclays raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday, May 27th. Susquehanna raised their price target on shares of FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research note on Friday, March 20th. Truist Financial set a $155.00 price objective on FedEx in a report on Tuesday, June 2nd. Finally, UBS Group started coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating and a $445.00 price objective on the stock. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $372.41.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock valued at $17,599,006 in the last 90 days. Insiders own 0.53% of the company’s stock.

FedEx Trading Up 0.2%

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

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.51 earnings per share. Research analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

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.