L & S Advisors Inc Invests $3.53 Million in FedEx Corporation $FDX

Key Points

• L & S Advisors Inc disclosed a new position in FedEx, buying 12,225 shares worth about $3.53 million in the fourth quarter.
• Institutional ownership remains heavy, with hedge funds and other investors holding 84.47% of FedEx stock; several large firms, including Vanguard and Dodge & Cox, also increased their stakes.
• Analysts are generally upbeat on FedEx, with a consensus rating of “Moderate Buy” and an average price target of $398.04, even after a few recent target increases from major banks.

L & S Advisors Inc acquired a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 12,225 shares of the shipping service provider's stock, valued at approximately $3,531,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 worth $5,527,870,000 after buying an additional 2,741,723 shares during the last quarter. Dodge & Cox lifted its position 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 worth $3,826,055,000 after buying an additional 1,742,666 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider's stock worth $1,135,411,000 after buying an additional 269,567 shares during the last quarter. Invesco Ltd. lifted its position in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider's stock worth $853,372,000 after buying an additional 108,426 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position 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 worth $638,203,000 after buying an additional 1,718,278 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FDX shares. Citigroup upped their price target on shares of FedEx from $327.00 to $401.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Wells Fargo & Company upped their price target on shares of FedEx from $430.00 to $450.00 and gave the company an "overweight" rating in a research report on Friday, March 20th. BMO Capital Markets upped their price target on shares of FedEx from $400.00 to $410.00 and gave the company a "market perform" rating in a research report on Friday, March 20th. Barclays reiterated a "buy" rating on shares of FedEx in a research report on Monday, May 11th. Finally, Sanford C. Bernstein upped their price target on shares of FedEx from $457.00 to $470.00 and gave the company an "outperform" rating in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $398.04.

FedEx Stock Down 1.1%

FDX stock opened at $375.99 on Friday. The company has a fifty day moving average price of $369.04 and a 200 day moving average price of $328.17. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The company has a market cap of $89.71 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

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

Insider Activity

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the transaction, the executive vice president owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. The trade was a 51.31% 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 90 days. Corporate 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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