Leuthold Group LLC Makes New $10.89 Million Investment in FedEx Corporation $FDX

Key Points

• Leuthold Group LLC opened a new position in FedEx during the fourth quarter, buying 37,713 shares worth about $10.89 million. FedEx now ranks as the firm’s 17th-largest holding.
• FedEx reported better-than-expected quarterly results, with EPS of $5.25 versus the $4.12 estimate and revenue of $24 billion, up 8.3% from a year earlier. The company also posted a 4.88% net margin and 16.76% return on equity.
• Wall Street sentiment is mixed but generally positive: analysts have a consensus rating of “Moderate Buy” with an average price target of $398.04. At the same time, insiders have been selling shares, including recent sales by an EVP and a director.

Leuthold Group LLC acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,713 shares of the shipping service provider's stock, valued at approximately $10,894,000. FedEx makes up approximately 1.2% of Leuthold Group LLC's holdings, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Brighton Jones LLC grew its stake in shares of FedEx by 12.8% in the 4th 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 in the last quarter. Empowered Funds LLC boosted its stake in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after purchasing an additional 4,548 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of FedEx during the 2nd quarter worth about $586,000. Quantbot Technologies LP purchased a new position in shares of FedEx during the 2nd quarter worth about $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx during the 2nd quarter worth about $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 1.1%

NYSE:FDX opened at $375.99 on Friday. FedEx Corporation has a one year low of $214.35 and a one year high of $404.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The firm has a market cap of $89.71 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29. The firm has a 50-day simple moving average of $369.04 and a 200-day simple moving average of $328.17.

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, beating the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the previous year, the business posted $4.51 EPS. The company's quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research cut shares of FedEx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 18th. BMO Capital Markets lifted their price target on shares of FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a research note on Friday, March 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of FedEx in a research note on Tuesday, May 12th. Stifel Nicolaus lifted their price target on shares of FedEx from $425.00 to $442.00 in a research note on Friday, April 10th. Finally, Barclays reaffirmed a "buy" rating on shares of FedEx in a research note on Monday, May 11th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $398.04.

Insider Buying and Selling at FedEx

In other news, EVP Kawal Preet sold 4,900 shares of the business's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by company insiders.

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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