FedEx Corporation $FDX Shares Purchased by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management nearly doubled its FedEx stake in the fourth quarter, buying 5,144 additional shares and bringing its total holdings to 10,320 shares worth about $2.98 million.
• FedEx’s latest earnings beat expectations, with $5.25 EPS and $24 billion in revenue, both ahead of analyst estimates; revenue also rose 8.3% year over year.
• Wall Street remains broadly positive on FedEx: analysts give the stock an average Moderate Buy rating with a consensus price target of $399.62, while several firms recently reiterated bullish views.

Axxcess Wealth Management LLC boosted its position in FedEx Corporation (NYSE:FDX - Free Report) by 99.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,320 shares of the shipping service provider's stock after acquiring an additional 5,144 shares during the quarter. Axxcess Wealth Management LLC's holdings in FedEx were worth $2,981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Vanguard Group Inc. raised its holdings in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares in the last quarter. Boston Partners purchased a new position in shares of FedEx during the third quarter worth approximately $468,195,000. Dodge & Cox grew its position in shares of FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the last quarter. AQR Capital Management LLC grew its position in shares of FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of FedEx during the third quarter worth approximately $171,960,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDX. Barclays restated a "buy" rating on shares of FedEx in a research report on Friday. Truist Financial lifted their price objective on shares of FedEx from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Susquehanna lifted their price objective on shares of FedEx from $410.00 to $455.00 and gave the company a "positive" rating in a research report on Friday, March 20th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of FedEx in a research report on Tuesday, May 12th. Finally, Wolfe Research lowered their price objective on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $399.62.

FedEx Stock Performance

NYSE:FDX opened at $394.18 on Monday. The firm's fifty day moving average price is $371.05 and its 200 day moving average price is $333.38. FedEx Corporation has a 1-year low of $214.35 and a 1-year high of $404.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market cap of $94.05 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business's revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.51 EPS. On average, sell-side analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. The trade was a 36.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the business's stock in a transaction on 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 in the company, valued at $7,110,229.35. The trade was a 51.31% 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 over the last 90 days. Company insiders own 0.53% of the company's stock.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Barclays reaffirmed its Buy rating on FedEx, and Citi also initiated/maintained a bullish stance with a $443 price target, reinforcing expectations for further upside. FedEx Barclays reiterates its buy rating
• Positive Sentiment: UBS said FedEx has potential upside from margin improvement, suggesting profitability trends could support a higher valuation. FedEx Facing Potential Upside Backed by Margin Improvement, UBS Securities Says
• Positive Sentiment: FedEx-led consortium’s $9 billion bid for InPost is moving forward, with the tender offer window opening May 26, signaling continued strategic expansion in European parcel logistics. FedEx-Led $9 Billion Buyout Offer Window For Polish Parcel Firm InPost Opens May-End
• Positive Sentiment: FedEx is also among large U.S. companies seeking tariff refunds, which could provide a modest cash-flow benefit if successful. Trump said he'd 'remember' companies that didn't apply for tariff refunds. Many of them are anyway
• Neutral Sentiment: Analyst and value-stock commentary continues to frame FedEx as a long-term market favorite, but these articles are mostly supportive rather than catalysts on their own. What Are Wall Street Analysts' Target Price for FedEx Stock?

About FedEx

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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