FedEx Corporation $FDX Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management cut its FedEx stake by 7.3% in the fourth quarter, selling 3,314 shares and leaving it with 42,037 shares valued at about $12.1 million.
• FedEx continues to see heavy institutional and insider activity: hedge funds own 84.47% of the stock, while executives Gina F. Adams and Tracy B. Brightman recently sold significant blocks of shares.
• The biggest company story is the FedEx Freight spin-off, which has led to a smaller parent company, mixed analyst reactions, and some price-target cuts even as several firms still rate the stock a Buy.

Northwestern Mutual Wealth Management Co. reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,037 shares of the shipping service provider's stock after selling 3,314 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in FedEx were worth $12,143,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. LRI Investments LLC increased its position in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock worth $183,000 after acquiring an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider's stock worth $84,000 after acquiring an additional 31 shares in the last quarter. Legacy Bridge LLC increased its position in shares of FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider's stock worth $38,000 after acquiring an additional 33 shares in the last quarter. True Wealth Design LLC increased its position in shares of FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after acquiring an additional 35 shares in the last quarter. Finally, ORG Partners LLC increased its position in shares of FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after acquiring an additional 35 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gina F. Adams sold 20,450 shares of the business'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 directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 11,052 shares in the company, valued at $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. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 over the last three months. Corporate insiders own 0.53% of the company's stock.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s launch as an independent company could unlock value, with management saying the LTL carrier can invest more aggressively in growth and target a 15% operating margin by 2029. FedEx Freight CEO says the spinoff will help the company 'leapfrog' competitors
• Positive Sentiment: FedEx Freight began trading on the NYSE as FDXF and joined major indexes, which may support investor interest in the newly listed business and reinforce the strategic rationale for the separation. FedEx Freight Completes Spinoff, Joins S&P 500, Dow Jones Transport Indexes
• Neutral Sentiment: Several analysts lowered price targets on FedEx after the spin-off, including BMO, HSBC, and Goldman Sachs, reflecting more cautious expectations for the parent’s post-separation valuation. BMO Capital adjusts FedEx price target to 340 from 410
• Neutral Sentiment: FedEx still has support from some analysts, with Goldman Sachs maintaining a buy rating even after trimming its target, suggesting the stock may still have upside if the restructuring improves margins and capital allocation. Goldman Sachs adjusts price target on FedEx to 375 from 405
• Negative Sentiment: The biggest reason FDX is down today is mechanical and structural: the Freight unit was spun off, so FedEx is now a smaller company and some investors are reassessing its earnings base and valuation after the separation. FedEx Completes Spin-Off of FedEx Freight

Analyst Ratings Changes

A number of brokerages recently commented on FDX. Weiss Ratings raised shares of FedEx from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Citigroup began coverage on shares of FedEx in a research report on Thursday, May 21st. They set a "buy" rating and a $443.00 price objective on the stock. JPMorgan Chase & Co. raised shares of FedEx from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $432.00 to $460.00 in a research report on Wednesday, May 27th. Raymond James Financial boosted their price objective on shares of FedEx from $305.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Finally, HSBC lowered their price objective on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research report on Monday. 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $395.53.

FedEx Price Performance

Shares of FedEx stock opened at $338.33 on Tuesday. The firm has a fifty day simple moving average of $376.08 and a 200-day simple moving average of $339.12. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 1-year low of $214.82 and a 1-year high of $413.87. The stock has a market capitalization of $80.73 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.57 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. During the same period in the previous year, the company earned $4.51 earnings per share. FedEx's revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that FedEx Corporation will post 19.63 earnings per share for the current year.

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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