Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in FedEx Corporation $FDX

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in FedEx during the fourth quarter, buying 8,578 shares worth about $2.48 million.
• FedEx reported better-than-expected quarterly results, posting EPS of $5.25 versus $4.12 expected and revenue of $24 billion, up 8.3% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $398.04, though some insiders recently sold shares.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in FedEx Corporation (NYSE:FDX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,578 shares of the shipping service provider's stock, valued at approximately $2,478,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in FedEx by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 74,588 shares of the shipping service provider's stock valued at $21,546,000 after purchasing an additional 210 shares during the last quarter. TD Private Client Wealth LLC raised its position in FedEx by 57.8% during the 4th quarter. TD Private Client Wealth LLC now owns 4,568 shares of the shipping service provider's stock valued at $1,320,000 after purchasing an additional 1,673 shares during the last quarter. Tucker Asset Management LLC bought a new position in FedEx during the 4th quarter valued at approximately $29,000. Mission Wealth Management LP raised its position in FedEx by 7.1% during the 4th quarter. Mission Wealth Management LP now owns 4,202 shares of the shipping service provider's stock valued at $1,214,000 after purchasing an additional 278 shares during the last quarter. Finally, RiverFront Investment Group LLC bought a new position in FedEx during the 4th quarter valued at approximately $274,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FedEx stock opened at $386.22 on Thursday. 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 company has a market capitalization of $92.15 billion, a P/E ratio of 20.55, a PEG ratio of 1.42 and a beta of 1.29. The stock's 50 day moving average is $369.79 and its 200 day moving average is $331.43. FedEx Corporation has a twelve month low of $214.35 and a twelve 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 for the quarter, topping the consensus estimate 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%.The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.51 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. This represents a 30.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company'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 value of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on FDX. BMO Capital Markets upped their price target on FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research report on Friday, March 20th. Jefferies Financial Group upped their price target on FedEx from $425.00 to $450.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Zacks Research lowered FedEx from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $479.00 target price on shares of FedEx in a research report on Friday, February 13th. Finally, Stephens reissued an "overweight" rating and issued a $435.00 target price on shares of FedEx in a research report on Tuesday, April 14th. Eighteen equities research 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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