Eurizon Capital SGR S.p.A. Takes Position in FedEx Corporation $FDX

Key Points

• Eurizon Capital SGR disclosed a new position in FedEx, buying 20,140 shares worth about $5.82 million in the fourth quarter.
• FedEx has continued to attract heavy institutional ownership, with major firms like Vanguard and Dodge & Cox increasing their stakes; overall, 84.47% of the stock is held by hedge funds and other institutions.
• Despite the buying interest, some insiders have sold shares recently, and FedEx stock was down about 17.8% in the article, even as analysts maintain a Moderate Buy consensus with an average price target of $395.53.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,140 shares of the shipping service provider's stock, valued at approximately $5,820,000.

Several other institutional investors also recently bought and sold shares of the stock. 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. Dodge & Cox boosted its holdings in FedEx by 12.0% during the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. Geode Capital Management LLC boosted its holdings in FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider's stock valued at $1,443,666,000 after acquiring an additional 45,818 shares during the period. Franklin Resources Inc. boosted its holdings in FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider's stock valued at $1,135,411,000 after acquiring an additional 269,567 shares during the period. Finally, Invesco Ltd. boosted its holdings in FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider's stock valued at $853,372,000 after acquiring an additional 108,426 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kawal Preet sold 4,900 shares of the firm'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 owned 10,953 shares of the company's stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following 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 worth $17,599,006 in the last 90 days. Corporate insiders own 0.53% of the company's stock.

FedEx Stock Down 17.8%

Shares of NYSE:FDX opened at $338.33 on Tuesday. FedEx Corporation has a 52-week low of $214.82 and a 52-week high of $413.87. The firm has a market capitalization of $80.73 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.57 and a beta of 1.28. The stock has a 50 day moving average price of $376.08 and a 200-day moving average price of $339.12. 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 (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $23.44 billion. During the same quarter in the prior year, the company earned $4.51 EPS. The business's revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Corporation will post 19.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Susquehanna increased their target price on FedEx from $410.00 to $455.00 and gave the company a "positive" rating in a report on Friday, March 20th. Citigroup assumed coverage on FedEx in a report on Thursday, May 21st. They set a "buy" rating and a $443.00 target price for the company. UBS Group assumed coverage on FedEx in a report on Wednesday, May 27th. They set a "buy" rating and a $445.00 target price for the company. Finally, Stephens restated an "overweight" rating and set a $435.00 target price on shares of FedEx in a report on Tuesday, April 14th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.53.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s launch as an independent company could unlock value, with management saying the LTL carrier can invest more aggressively in growth and target a 15% operating margin by 2029. FedEx Freight CEO says the spinoff will help the company 'leapfrog' competitors
• Positive Sentiment: FedEx Freight began trading on the NYSE as FDXF and joined major indexes, which may support investor interest in the newly listed business and reinforce the strategic rationale for the separation. FedEx Freight Completes Spinoff, Joins S&P 500, Dow Jones Transport Indexes
• Neutral Sentiment: Several analysts lowered price targets on FedEx after the spin-off, including BMO, HSBC, and Goldman Sachs, reflecting more cautious expectations for the parent’s post-separation valuation. BMO Capital adjusts FedEx price target to 340 from 410
• Neutral Sentiment: FedEx still has support from some analysts, with Goldman Sachs maintaining a buy rating even after trimming its target, suggesting the stock may still have upside if the restructuring improves margins and capital allocation. Goldman Sachs adjusts price target on FedEx to 375 from 405
• Negative Sentiment: The biggest reason FDX is down today is mechanical and structural: the Freight unit was spun off, so FedEx is now a smaller company and some investors are reassessing its earnings base and valuation after the separation. FedEx Completes Spin-Off of FedEx Freight

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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