FedEx Corporation $FDX Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden cut its FedEx stake by 5.3% in the fourth quarter, selling 2,500 shares and leaving it with 44,500 shares worth about $12.85 million.
• FedEx insiders also sold shares recently, including EVP Tracy B. Brightman and Director Susan C. Schwab, with insiders collectively selling 48,104 shares worth $17.6 million over the last 90 days.
• Analysts remain mixed on the stock, but the overall view is still Moderate Buy with a consensus price target of $400.69, while attention is focused on the upcoming FedEx Freight spinoff and its potential to unlock value.

Forsta AP Fonden lowered its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,500 shares of the shipping service provider's stock after selling 2,500 shares during the period. Forsta AP Fonden's holdings in FedEx were worth $12,854,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in FedEx by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider's stock valued at $8,243,000 after purchasing an additional 3,514 shares during the period. Savant Capital LLC raised its position in FedEx by 32.5% in the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider's stock valued at $9,437,000 after purchasing an additional 9,806 shares during the period. National Pension Service raised its position in FedEx by 3.9% in the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider's stock valued at $149,356,000 after purchasing an additional 23,563 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in shares of FedEx during the third quarter worth about $171,960,000. Finally, Applied Finance Capital Management LLC purchased a new stake in shares of FedEx during the third quarter worth about $727,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 16,959 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the business'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 transaction, the director owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Evercore lowered FedEx from an "outperform" rating to a "cautious" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday. Bank of America lifted their price target on FedEx from $431.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Stifel Nicolaus lifted their price target on FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Finally, HSBC upgraded FedEx from a "reduce" rating to a "hold" rating and set a $360.00 price target for the company in a research note on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $400.69.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s spinoff is set to go live on June 1, and Wall Street commentary suggests the separation could unlock value for FedEx’s remaining business by sharpening its focus and simplifying the investment case. FedEx Freight (FDXF) Spinoff Goes Live June 1: Everything You Need to Know
• Positive Sentiment: JPMorgan reportedly turned constructive on FedEx ahead of the spinoff, saying the transaction could unlock more value for the parent company and supporting the stock as a buy idea. FedEx is a buy as freight business spinoff approaches, JPMorgan says
• Positive Sentiment: The new FedEx Freight company is expected to join major indexes quickly, including the S&P 500 and Dow Jones Transportation Average, which could create automatic index-related demand for the spun-off shares and reinforce investor attention on the separation. FedEx Freight Holding Set to Join Dow Jones Transportation Average
• Neutral Sentiment: Market coverage is also highlighting upcoming earnings and valuation debate around FedEx, with investors weighing whether the stock’s recent momentum can continue after the corporate restructuring.

FedEx Stock Performance

Shares of FDX stock opened at $412.11 on Monday. 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 business has a 50 day moving average of $376.41 and a two-hundred day moving average of $338.62. FedEx Corporation has a 52 week low of $214.82 and a 52 week high of $413.87. The company has a market cap of $98.33 billion, a P/E ratio of 21.93, a PEG ratio of 1.57 and a beta of 1.28.

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, beating analysts' consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 earnings per share. As a group, analysts anticipate that FedEx Corporation will post 19.63 EPS for the current year.

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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