Kingsview Wealth Management LLC Has $13.02 Million Position in FedEx Corporation $FDX

Key Points

• Kingsview Wealth Management increased its FedEx stake by 32.8% in the fourth quarter, ending with 45,073 shares worth about $13.02 million.
• JPMorgan upgraded FedEx to Overweight and lifted its price target to $460, citing an attractive setup ahead of a key period for the company and potential value creation from the planned freight spin-off.
• FedEx also reported stronger-than-expected quarterly results, with EPS of $5.25 and revenue of $24 billion, while analysts currently rate the stock a Moderate Buy with an average price target of about $400.69.

Kingsview Wealth Management LLC boosted its position in FedEx Corporation (NYSE:FDX - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,073 shares of the shipping service provider's stock after purchasing an additional 11,136 shares during the period. Kingsview Wealth Management LLC's holdings in FedEx were worth $13,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Wealth Watch Advisors INC acquired a new stake in shares of FedEx in the third quarter valued at about $28,000. Ameriflex Group Inc. increased its stake in shares of FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock valued at $29,000 after buying an additional 63 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $29,000. Tucker Asset Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $29,000. Finally, ORG Partners LLC increased its stake 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 valued at $30,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: JPMorgan upgraded FedEx to Overweight from Neutral and raised its price target to $460 from $432, saying the stock looks attractive ahead of a pivotal period for the logistics company. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
• Positive Sentiment: JPMorgan also said the planned freight spin-off could unlock shareholder value and improve transparency, reinforcing the bull case for the remaining FedEx business. FedEx spin-off could unlock more value for remaining business—J.P. Morgan
• Positive Sentiment: S&P announced that the FedEx Freight holding company will join the S&P 500, a development that can support index-related demand and highlights the significance of the separation. FedEx Freight Holding Company Set to Join S&P 500; EPAM Systems and Dave to Join S&P SmallCap 600
• Neutral Sentiment: Additional market commentary described FedEx as a long-term momentum stock, reflecting broader investor interest but offering no new fundamental catalyst. Why FedEx (FDX) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: FedEx also continued to receive positive press around its logistics footprint and brand, but these items are not major stock-moving news by themselves. Delivering History: FedEx Brings Millions of Years of the Past to the Present

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FDX. Rothschild & Co Redburn increased their price target on FedEx from $317.00 to $371.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Morgan Stanley increased their price target on FedEx from $220.00 to $230.00 and gave the company an "underweight" rating in a research note on Friday, March 20th. Citigroup began coverage on FedEx in a research note on Thursday, May 21st. They issued a "buy" rating and a $443.00 price target for the company. Bank of America increased their price target on FedEx from $431.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Finally, Argus increased their price target on FedEx from $350.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $400.69.

FedEx Stock Up 2.8%

Shares of NYSE:FDX opened at $411.29 on Thursday. The business's 50 day simple moving average is $374.01 and its two-hundred day simple moving average is $336.46. The firm has a market cap of $98.14 billion, a P/E ratio of 21.89, a PEG ratio of 1.52 and a beta of 1.29. 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 52-week low of $214.82 and a 52-week high of $413.70.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 earnings per share. As a group, research analysts forecast that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Insider Transactions at FedEx

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the 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 owned 10,038 shares in the company, valued at approximately $3,704,022. This 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 accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the 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 completion of the transaction, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock worth $17,599,006 in the last three months. Insiders own 0.53% of the company's stock.

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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