CIBC Asset Management Inc Grows Stock Holdings in FedEx Corporation $FDX

Key Points

• CIBC Asset Management increased its FedEx stake by 80.9% in the fourth quarter, adding 25,185 shares and bringing its total holdings to 56,328 shares valued at about $16.3 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.
• Investor sentiment is mixed but generally constructive: analysts highlight potential upside from the FedEx Freight spin-off, though some warnings remain about margin pressure and possible earnings misses, while recent insider selling and varied price targets add caution.

CIBC Asset Management Inc lifted its position in FedEx Corporation (NYSE:FDX - Free Report) by 80.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,328 shares of the shipping service provider's stock after purchasing an additional 25,185 shares during the quarter. CIBC Asset Management Inc's holdings in FedEx were worth $16,271,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth about $859,085,000. Vanguard Group Inc. boosted its holdings in FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock valued at $5,527,870,000 after acquiring an additional 2,741,723 shares during the period. Boston Partners bought a new position in FedEx during the 3rd quarter worth approximately $468,195,000. Dodge & Cox increased its stake in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC increased its stake in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of FDX stock opened at $328.03 on Friday. The business's fifty day moving average is $374.23 and its 200 day moving average is $340.37. 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 stock has a market cap of $78.27 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.46 and a beta of 1.28. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $341.14.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.76% and a net margin of 4.88%.The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.51 earnings per share. Research analysts expect that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Analysts and market commentators say the Freight spin-off could unlock value for FedEx by leaving the remaining Express and Ground businesses with better margin potential and a simpler structure. FedEx Unboxes Billions in Post Spinoff Value
• Positive Sentiment: Jim Cramer highlighted the new FedEx Freight spin-off as a potential winner, reinforcing bullish sentiment around the restructuring. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
• Positive Sentiment: Goldman Sachs reportedly reiterated a buy view on FedEx, suggesting some analysts remain constructive despite broader market volatility. FedEx (FDX) Receives a Buy from Goldman Sachs
• Neutral Sentiment: Several recent pieces focus on how FedEx is outperforming parts of the industrial sector and whether the stock deserves a higher valuation after its pullback, but these are more commentary-driven than new company-specific catalysts. FedEx Stock: Is FDX Outperforming the Industrial Sector?
• Negative Sentiment: Morgan Stanley warned that FedEx’s upcoming quarterly results could miss Street expectations because of margin pressure, which may cap gains until earnings are reported. FedEx Quarterly Earnings Could Miss Street Views Amid Margin Pressures, Morgan Stanley Says
• Negative Sentiment: There is also some caution around the newly public FedEx Freight business, with early trading and first-week commentary suggesting investors are still deciding how to value the spin-off. FedEx Freight is viewed cautiously in its first week of trading

Insider Buying and Selling at FedEx

In other FedEx 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 value of $2,138,355.00. Following the sale, the director owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company's stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore lowered FedEx from an "outperform" rating to a "cautious" rating in a research note on Wednesday, May 27th. Stephens reiterated an "overweight" rating and set a $435.00 price target on shares of FedEx in a report on Tuesday, April 14th. TD Cowen increased their price target on shares of FedEx from $383.00 to $426.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Truist Financial set a $155.00 price target on shares of FedEx in a report on Tuesday. Finally, Wall Street Zen downgraded shares of FedEx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 12th. Eighteen equities 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.41.

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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.