FedEx Corporation $FDX Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp cut its FedEx stake by 84.3% in Q4, selling 96,169 shares and leaving 17,919 shares valued at about $5.18 million.
• Company insiders have sold 48,104 shares worth roughly $17.6 million in the past three months — including EVP Tracy Brightman (16,959 shares) and EVP Gina Adams (20,450 shares) — leaving insiders with about 0.53% ownership.
• FedEx beat estimates with $5.25 EPS vs. $4.12 expected and $24 billion in revenue for the quarter, and analysts retain a "Moderate Buy" consensus (average target $398.04) while the company pays a $1.45 quarterly dividend (1.5% yield).

M&T Bank Corp lessened its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 84.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,919 shares of the shipping service provider's stock after selling 96,169 shares during the period. M&T Bank Corp's holdings in FedEx were worth $5,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bigelow Investment Advisors LLC grew its holdings in FedEx by 1.8% during the fourth quarter. Bigelow Investment Advisors LLC now owns 2,280 shares of the shipping service provider's stock worth $659,000 after acquiring an additional 40 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FedEx during the fourth quarter worth $57,000. Salomon & Ludwin LLC grew its holdings in FedEx by 700.0% during the fourth quarter. Salomon & Ludwin LLC now owns 144 shares of the shipping service provider's stock worth $43,000 after acquiring an additional 126 shares during the period. Osborne Partners Capital Management LLC acquired a new position in FedEx during the fourth quarter worth $201,000. Finally, Checchi Capital Advisers LLC grew its holdings in FedEx by 3.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,684 shares of the shipping service provider's stock worth $486,000 after acquiring an additional 58 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Down 1.2%

FDX opened at $387.83 on Friday. The business's fifty day moving average is $369.88 and its two-hundred day moving average is $315.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market cap of $92.54 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.49 and a beta of 1.28. FedEx Corporation has a one year low of $204.33 and a one year high of $399.67.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion for 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 business earned $4.51 earnings per share. Analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, March 9th. FedEx's payout ratio is presently 30.87%.

Insider Transactions at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 in the last three months. 0.53% of the stock is owned by company insiders.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Recent price momentum and strong multi-period returns have attracted attention, supporting investor confidence in the stock's rally. FedEx (FDX) Valuation Check After Strong Multi Period Share Price Momentum
• Positive Sentiment: Sector strength: commentary that transport names (including FedEx) are rallying has buoyed sentiment because shipping strength is often seen as a proxy for economic resilience. When Transport Stocks Rally, Recession Risks Fade: Technicals
• Positive Sentiment: Strategic growth tie-up in Vietnam with Viettel Post may expand cross-border volumes and emerging-market exposure for FedEx. Viettel Post and FedEx Announce Strategic Partnership to Strengthen Cross-Border Logistics in Vietnam
• Negative Sentiment: Short interest rose materially in April — up ~23.6% to 3,275,799 shares (about 1.4% of shares outstanding) with a ~2.1 days-to-cover — increasing the potential for further selling pressure and volatility as shorts accumulate.
• Negative Sentiment: Valuation and macro caution: a recent analyst piece argues that stretched valuation and macro/technical risks still outweigh FedEx’s fundamentals, which can prompt profit-taking after the strong run. FedEx Corporation: Valuation, Technical, And Macro Downsides Still Outweigh Fundamental Soundness
• Negative Sentiment: Regulatory/operational headwind: carriers (including FedEx) are expected to reimburse customers via the CBP tariff refund portal, which could mean near-term cash outflows and customer-relations costs. UPS, FedEx, DHL Set to Reimburse Customers as CBP Tariff Portal Goes Live

Analyst Ratings Changes

A number of research analysts recently weighed in on FDX shares. Wall Street Zen lowered FedEx from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 12th. Wells Fargo & Company upped their price objective on FedEx from $430.00 to $450.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. UBS Group upped their price objective on FedEx from $412.00 to $446.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Sanford C. Bernstein upped their price objective on FedEx from $457.00 to $470.00 and gave the stock an "outperform" rating in a report on Thursday, April 9th. Finally, Jefferies Financial Group boosted their target price on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus price target of $398.04.

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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