Banque Cantonale Vaudoise Reduces Stake in FedEx Corporation $FDX

Key Points

• Banque Cantonale Vaudoise cut its FedEx stake by 32.4% in the fourth quarter, selling 2,901 shares and leaving it with 6,045 shares valued at about $1.75 million.
• FedEx insiders were also sellers, with EVP Kawal Preet and EVP Tracy B. Brightman both reducing their holdings in April; insiders have sold 48,104 shares worth about $17.6 million over the last 90 days.
• FedEx reported strong quarterly results and analyst support remains positive, beating EPS and revenue estimates, while several firms raised price targets; the stock has a consensus “Moderate Buy” rating and an average target of $399.65.

Banque Cantonale Vaudoise lowered its position in FedEx Corporation (NYSE:FDX - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,045 shares of the shipping service provider's stock after selling 2,901 shares during the period. Banque Cantonale Vaudoise's holdings in FedEx were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. LRI Investments LLC boosted its position in FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock valued at $183,000 after buying an additional 31 shares during the last quarter. Legacy Bridge LLC boosted its position in FedEx by 33.0% in the fourth 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 last quarter. True Wealth Design LLC boosted its position in FedEx by 8.2% in the 4th quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after purchasing an additional 35 shares in the last quarter. ORG Partners LLC boosted 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 in the last quarter. Finally, Moneco Advisors LLC boosted its position in FedEx by 3.9% in the 4th quarter. Moneco Advisors LLC now owns 968 shares of the shipping service provider's stock worth $280,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the executive vice president directly owned 10,953 shares of the company's stock, valued at $4,029,499.17. This represents a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company's stock.

FedEx Trading Up 0.6%

Shares of FDX stock opened at $389.17 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $92.86 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.47 and a beta of 1.29. The stock has a 50 day simple moving average of $370.39 and a 200-day simple moving average of $332.38. FedEx Corporation has a 1-year low of $214.35 and a 1-year high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results 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 business had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.51 EPS. On average, equities research analysts expect that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price objective on FedEx from $430.00 to $450.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Evercore upped their price objective on FedEx from $364.00 to $380.00 in a research report on Tuesday, February 24th. Argus upped their price objective on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Jefferies Financial Group upped their price objective on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, Bank of America upped their price objective on FedEx from $431.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $399.65.

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.

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