3,670 Shares in FedEx Corporation $FDX Purchased by Red Cedar Investment Management LLC

Key Points

• Red Cedar Investment Management LLC opened a new position in FedEx, buying 3,670 shares valued at about $1.06 million in the fourth quarter.
• Analysts remain generally upbeat on FedEx, with a Moderate Buy consensus and a consensus price target of $372.41, though some firms have recently trimmed targets while others raised them.
• FedEx posted solid recent results, beating quarterly EPS and revenue estimates, and also announced a quarterly dividend of $1.22 per share, while insider selling and a major pilots’ labor agreement were notable developments.

Red Cedar Investment Management LLC bought a new position in FedEx Corporation (NYSE:FDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,670 shares of the shipping service provider's stock, valued at approximately $1,060,000.

Other institutional investors have also recently made changes to their positions in the company. Wealth Watch Advisors INC purchased a new position in shares of FedEx during the third quarter valued at approximately $28,000. Ameriflex Group Inc. boosted its holdings in FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Ulland Investment Advisors LLC purchased a new stake in FedEx in the fourth quarter worth approximately $29,000. Tucker Asset Management LLC bought a new stake in FedEx in the 4th quarter worth approximately $29,000. Finally, ORG Partners LLC grew its position in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Stephens reaffirmed an "overweight" rating and issued a $435.00 price objective on shares of FedEx in a report on Tuesday, April 14th. Seaport Research Partners initiated coverage on FedEx in a research report on Wednesday, May 27th. They set a "buy" rating for the company. Sanford C. Bernstein increased their target price on FedEx from $457.00 to $470.00 and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $372.41.

FedEx Price Performance

Shares of FedEx stock opened at $331.79 on Wednesday. The stock's fifty day moving average is $373.06 and its 200 day moving average is $341.80. The stock has a market cap of $79.17 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.50 and a beta of 1.28. 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 one year low of $172.88 and a one year high of $341.14.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 earnings per share. Sell-side analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is currently 30.87%.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 16,959 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the company's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last ninety days. Insiders own 0.53% of the company's stock.

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
• Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
• Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight

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.

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