Fideuram Asset Management Ireland dac Makes New $737,000 Investment in FedEx Corporation $FDX

Key Points

• Fideuram Asset Management Ireland dac opened a new position in FedEx during the fourth quarter, buying 2,553 shares valued at about $737,000.
• Institutional ownership in FedEx remains high, with 84.47% of shares held by hedge funds and other investors. Several other funds also recently increased or initiated positions in the stock.
• Analysts are broadly constructive on FedEx ahead of the FedEx Freight spinoff, with a consensus rating of Moderate Buy and an average price target of $400.69; the company also recently beat quarterly earnings and revenue estimates.

Fideuram Asset Management Ireland dac bought a new position in FedEx Corporation (NYSE:FDX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,553 shares of the shipping service provider's stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Brighton Jones LLC boosted its holdings in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the period. Empowered Funds LLC boosted its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of FedEx in the second quarter worth about $586,000. Quantbot Technologies LP acquired a new position in shares of FedEx in the second quarter worth about $186,000. Finally, Jump Financial LLC acquired a new position in shares of FedEx in the second quarter worth about $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of FedEx from $220.00 to $230.00 and gave the stock an "underweight" rating in a report on Friday, March 20th. Weiss Ratings upgraded shares of FedEx from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 15th. Seaport Research Partners assumed coverage on shares of FedEx in a report on Wednesday. They set a "buy" rating for the company. Jefferies Financial Group raised their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Finally, Rothschild & Co Redburn raised their price target on shares of FedEx from $317.00 to $371.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $400.69.

Key FedEx News

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 Price Performance

Shares of FDX opened at $412.11 on Friday. The firm has a market cap of $98.33 billion, a PE ratio of 21.93, a PEG ratio of 1.57 and a beta of 1.29. The firm's 50 day moving average price is $376.41 and its 200 day moving average price is $338.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx Corporation has a twelve month low of $214.82 and a twelve month high of $413.87.

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, beating the consensus estimate of $4.12 by $1.13. The firm 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 company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 earnings per share. As a group, research analysts expect that FedEx Corporation will post 19.63 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 5,795 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This trade represents a 36.60% 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 Tracy B. Brightman sold 16,959 shares of the firm's stock in a transaction that occurred 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 in the last ninety days. 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.

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