FedEx Corporation $FDX Shares Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp increased its FedEx stake by 7.8% in the fourth quarter, ending with 2,008,722 shares valued at about $580.2 million.
• FedEx reported a strong latest quarter, with EPS of $5.25 beating estimates and revenue of $24 billion, up 8.3% year over year.
• Investor sentiment remains mixed but generally constructive: analysts hold a Moderate Buy consensus, while commentary highlights potential upside from the FedEx Freight spin-off and a possible dividend increase.

Bank of New York Mellon Corp lifted its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,008,722 shares of the shipping service provider's stock after buying an additional 145,831 shares during the period. Bank of New York Mellon Corp owned about 0.85% of FedEx worth $580,240,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC grew its stake in FedEx by 5.2% during the 4th quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock valued at $183,000 after acquiring an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in FedEx by 11.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider's stock valued at $84,000 after acquiring an additional 31 shares in the last quarter. Legacy Bridge LLC grew its stake 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 purchasing an additional 33 shares in the last quarter. True Wealth Design LLC grew its stake in FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock valued at $133,000 after purchasing an additional 35 shares in the last quarter. Finally, ORG Partners LLC grew its stake in FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock valued at $30,000 after purchasing an additional 35 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares of the company's stock, valued at $3,704,022. This represents a 36.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company's stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company's stock.

FedEx Price Performance

NYSE FDX opened at $324.78 on Thursday. FedEx Corporation has a twelve month low of $216.10 and a twelve month high of $413.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a market capitalization of $77.49 billion, a PE ratio of 17.28, a P/E/G ratio of 1.11 and a beta of 1.28. The stock has a 50-day simple moving average of $374.86 and a 200 day simple moving average of $339.94.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. During the same quarter in the previous year, the firm earned $4.51 EPS. The firm's revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that FedEx Corporation will post 19.63 EPS for the current year.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Several pieces of commentary argue the FedEx Freight spin-off could unlock value for FedEx by creating a leaner express/ground business with better margin expansion potential and higher returns on invested capital. FedEx Unboxes Billions in Post-Spinoff Value
• Positive Sentiment: FedEx is also expected to announce another dividend increase when it reports results on June 23, which could appeal to income-focused investors. Dear Dividend Investors, Mark Your Calendars for June 23
• Positive Sentiment: Goldman Sachs reiterated a Buy rating, and Bank of America said the spin-off could improve cost savings and buyback capacity at FedEx. FedEx (FDX) Receives a Buy from Goldman Sachs

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets lowered their target price on FedEx from $410.00 to $340.00 and set a "market perform" rating on the stock in a research note on Monday. Morgan Stanley boosted their target price on FedEx from $220.00 to $230.00 and gave the company an "underweight" rating in a research note on Friday, March 20th. Barclays upgraded FedEx from an "overweight" rating to an "overweight" rating in a research note on Wednesday, May 27th. Jefferies Financial Group boosted their target price on FedEx from $425.00 to $450.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, Citigroup assumed coverage on FedEx in a research note on Thursday, May 21st. They issued a "buy" rating and a $443.00 target price on the stock. Eighteen investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

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