Clear Trail Advisors LLC Invests $1.99 Million in FedEx Corporation $FDX

Key Points

• Clear Trail Advisors LLC opened a new position in FedEx, buying 5,572 shares worth about $1.99 million in the first quarter.
• Institutional interest in FedEx remains high, with 84.47% of shares held by institutions and several other hedge funds increasing or starting positions recently.
• Analysts are broadly constructive on the stock, with FedEx carrying a Moderate Buy consensus rating and an average price target of $367.76, though some firms have trimmed targets ahead of earnings.

Clear Trail Advisors LLC bought a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,572 shares of the shipping service provider's stock, valued at approximately $1,985,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares in the last quarter. Empowered Funds LLC increased its position in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in FedEx during the second quarter worth about $586,000. Quantbot Technologies LP bought a new stake in FedEx during the second quarter worth about $186,000. Finally, Jump Financial LLC acquired a new position in FedEx during the second quarter valued at approximately $456,000. Institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. Truist Financial set a $155.00 price target on FedEx in a research note on Tuesday, June 2nd. Sanford C. Bernstein reissued a "buy" rating on shares of FedEx in a report on Monday. Bank of America decreased their target price on shares of FedEx from $440.00 to $376.00 and set a "buy" rating for the company in a research note on Tuesday, June 2nd. Wolfe Research lowered their target price on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $367.76.

FedEx Stock Performance

FDX opened at $328.49 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The business has a 50 day moving average of $367.67 and a 200-day moving average of $345.54. The stock has a market cap of $78.38 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.48 and a beta of 1.28.

FedEx Cuts Dividend

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

Insider Activity at FedEx

In other news, Director Susan C. Schwab sold 5,795 shares of the 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 transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gina F. Adams sold 20,450 shares of the firm's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,104 shares of company stock valued at $17,599,006 over the last three months. Company insiders own 0.53% of the company's stock.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Bernstein sees about 30% upside in FedEx (FDX) ahead of Tuesday’s earnings, citing improving fundamentals and the company’s ongoing operational turnaround. Bernstein Sees 30% Upside in FedEx Stock (FDX) Ahead of June 23 Earnings; Here’s Why
• Positive Sentiment: Market commentary describes FedEx (FDX) as “one of the better turnaround stories,” with a target as high as $345 and expectations that the stock could reach a fresh high if results beat estimates. FedEx Q4 Preview: Market Expert Sees Stock Rallying To $345; ‘One Of The Better Turnaround Stories’
• Positive Sentiment: Retail investors are accumulating shares of FedEx (FDX) ahead of earnings, suggesting sentiment is improving into the report. Retail Investors Looking for FedEx to Deliver in Q4 Earnings
• Neutral Sentiment: Investors are watching FedEx’s (FDX) upcoming earnings closely, along with broader macro data such as the Fed’s preferred inflation gauge, which could influence guidance and market reaction. 5 Things to Know Before the Stock Market Opens
• Neutral Sentiment: Analysts and market previews note that FedEx (FDX) has benefited from stronger e-commerce and business shipping demand, but the stock’s next move will likely depend on whether earnings and outlook confirm that momentum. Pitney Bowes or FedEx: Which Logistics Stock Is the Better Buy Now?

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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