Fortis Group Advisors LLC Purchases 6,122 Shares of FedEx Corporation $FDX

Key Points

• Fortis Group Advisors LLC dramatically increased its FedEx stake in the fourth quarter, buying 6,122 additional shares and lifting its holdings to 6,172 shares worth about $1.78 million.
• FedEx reported a strong quarter, with EPS of $5.25 beating estimates and revenue of $24 billion topping expectations; revenue also rose 8.3% from a year earlier.
• Despite solid results and several analyst price-target increases, some executives sold shares recently, while analysts overall rate the stock Moderate Buy with an average target price of $398.04.

Fortis Group Advisors LLC raised its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 12,244.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,172 shares of the shipping service provider's stock after purchasing an additional 6,122 shares during the quarter. Fortis Group Advisors LLC's holdings in FedEx were worth $1,783,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FDX. Vanguard Group Inc. grew its stake in shares of FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Boston Partners bought a new stake in shares of FedEx during the 3rd quarter valued at about $468,195,000. Dodge & Cox grew its stake in shares of FedEx by 12.0% during the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. AQR Capital Management LLC grew its stake in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of FedEx during the 3rd quarter valued at about $171,960,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 3.0%

Shares of NYSE:FDX opened at $386.22 on Thursday. The stock has a 50 day moving average of $369.79 and a 200 day moving average of $331.43. The company has a market cap of $92.15 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. 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 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 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion for the quarter, compared to analysts' expectations of $23.44 billion. During the same period in the previous year, the firm earned $4.51 EPS. The firm's revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 5,795 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares of the company's stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business'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 transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 in the last 90 days. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FDX. Stifel Nicolaus boosted their price target on FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Truist Financial boosted their price objective on FedEx from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Friday, March 20th. The Goldman Sachs Group boosted their price objective on FedEx from $364.00 to $369.00 and gave the company a "buy" rating in a research note on Friday, March 13th. BMO Capital Markets boosted their price objective on FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research note on Friday, March 20th. Finally, Citigroup boosted their price objective on FedEx from $327.00 to $401.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $398.04.

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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