FedEx Corporation $FDX Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management trimmed its FedEx stake by 1.5% in the fourth quarter, selling 17,431 shares and ending with 1,132,985 shares valued at about $327.3 million.
• Wall Street sentiment remains upbeat, with several analysts raising price targets; FedEx now has a consensus rating of “Moderate Buy” and an average target price of $399.62.
• FedEx recently delivered strong quarterly results, beating EPS and revenue estimates with $5.25 per share and $24 billion in revenue, while revenue rose 8.3% year over year.

LSV Asset Management decreased its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,132,985 shares of the shipping service provider's stock after selling 17,431 shares during the quarter. LSV Asset Management owned about 0.48% of FedEx worth $327,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. Brighton Jones LLC lifted its holdings in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% during the 1st 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 in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the second quarter worth $586,000. Quantbot Technologies LP acquired a new position in shares of FedEx during the second quarter worth $186,000. Finally, Jump Financial LLC acquired a new position in shares of FedEx during the second quarter worth $456,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. Truist Financial boosted their target price on shares of FedEx from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Argus boosted their target price on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Stifel Nicolaus boosted their target price on shares of FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of FedEx in a research report on Tuesday, May 12th. Finally, Evercore boosted their target price on shares of FedEx from $364.00 to $380.00 in a research report on Tuesday, February 24th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $399.62.

Trending Headlines about FedEx

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?

FedEx Trading Up 1.4%

FDX opened at $394.18 on Friday. The stock has a market capitalization of $94.05 billion, a PE ratio of 20.98, a P/E/G ratio of 1.47 and a beta of 1.29. The firm's fifty day moving average price is $371.05 and its 200 day moving average price is $332.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. FedEx Corporation has a 12-month low of $214.35 and a 12-month high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.51 earnings per share. As a group, research analysts expect that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Insider Activity at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 19,403 shares of the company's stock, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company's stock.

FedEx 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.