Canada Post Corp Registered Pension Plan Boosts Stake in FedEx Corporation $FDX

Key Points

• Canada Post Corp Registered Pension Plan increased its FedEx stake by 85.9% in the fourth quarter, adding 3,138 shares to bring its total to 6,792 shares valued at about $1.96 million.
• FedEx reported strong quarterly results, with EPS of $5.25 beating estimates by $1.13 and revenue of $24 billion topping forecasts; revenue also rose 8.3% year over year.
• Analysts remain mostly bullish on FedEx, with a Moderate Buy consensus and an average price target of $398.04, though recent insider sales included shares sold by an executive vice president and a director.

Canada Post Corp Registered Pension Plan boosted its stake in FedEx Corporation (NYSE:FDX - Free Report) by 85.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,792 shares of the shipping service provider's stock after buying an additional 3,138 shares during the quarter. Canada Post Corp Registered Pension Plan's holdings in FedEx were worth $1,962,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Grey Fox Wealth Advisors LLC purchased a new stake in FedEx in the 3rd quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new position in shares of FedEx during the 3rd quarter worth $28,000. Ameriflex Group Inc. lifted its stake in shares of FedEx by 103.3% during the 3rd 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 period. Ulland Investment Advisors LLC purchased a new position in shares of FedEx during the 4th quarter worth $29,000. Finally, ORG Partners LLC lifted its stake in shares of FedEx by 50.0% during 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.

FedEx Stock Up 0.1%

Shares of NYSE FDX opened at $375.99 on Monday. FedEx Corporation has a 12-month low of $214.35 and a 12-month high of $404.03. The company has a market cap of $89.71 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $369.04 and a 200 day moving average price of $328.74.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) 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 firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same period in the prior year, the firm earned $4.51 EPS. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on FDX. Raymond James Financial increased their price target on FedEx from $305.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Wolfe Research reduced their price target on FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Jefferies Financial Group upped their price objective on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Barclays restated a "buy" rating on shares of FedEx in a report on Monday, May 11th. Finally, The Goldman Sachs Group upped their price objective on FedEx from $364.00 to $369.00 and gave the stock a "buy" rating in a report on Friday, March 13th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $398.04.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director owned 10,038 shares of the company's stock, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

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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