MUFG Securities EMEA plc Boosts Position in FedEx Corporation $FDX

Key Points

• MUFG Securities EMEA plc sharply increased its FedEx stake in the fourth quarter, boosting holdings by 2,868.4% to 123,307 shares valued at about $35.6 million.
• FedEx reported strong quarterly results, with EPS of $5.25 versus estimates of $4.12 and revenue of $24 billion, topping expectations and rising 8.3% year over year.
• Analyst sentiment remains mixed but generally constructive: the stock has a Moderate Buy consensus with an average price target of $400.69, while attention is centered on the upcoming FedEx Freight spinoff that some believe could unlock value.

MUFG Securities EMEA plc boosted its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 2,868.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 123,307 shares of the shipping service provider's stock after buying an additional 119,153 shares during the period. MUFG Securities EMEA plc owned approximately 0.05% of FedEx worth $35,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Norges Bank purchased a new position in FedEx in the 4th quarter worth approximately $859,085,000. Vanguard Group Inc. boosted its holdings in FedEx by 13.2% in 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 acquiring an additional 2,741,723 shares during the period. Boston Partners purchased a new position in FedEx in the 3rd quarter worth approximately $468,195,000. Dodge & Cox boosted its holdings in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in FedEx by 169.2% in 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 acquiring an additional 1,718,278 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

FedEx stock opened at $412.11 on Friday. The stock has a market cap of $98.33 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 1.57 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. The stock has a 50 day moving average of $376.41 and a 200-day moving average of $338.03. FedEx Corporation has a 52 week low of $214.82 and a 52 week high of $413.87.

FedEx (NYSE:FDX - Get Free Report) last released its 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 company had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.51 EPS. On average, analysts expect that FedEx Corporation will post 19.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. Evercore cut FedEx from an "outperform" rating to a "cautious" rating in a report on Wednesday. Raymond James Financial increased their target price on FedEx from $305.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Zacks Research cut FedEx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 18th. Wolfe Research reduced their target price on FedEx from $427.00 to $423.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Finally, Bank of America increased their target price on FedEx from $431.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $400.69.

Insider Transactions at FedEx

In related news, 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 transaction of $6,164,087.73. Following the sale, the executive vice president directly owned 11,052 shares of the company's stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is currently owned by insiders.

Key FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s spinoff is set to go live on June 1, and Wall Street commentary suggests the separation could unlock value for FedEx’s remaining business by sharpening its focus and simplifying the investment case. FedEx Freight (FDXF) Spinoff Goes Live June 1: Everything You Need to Know
• Positive Sentiment: JPMorgan reportedly turned constructive on FedEx ahead of the spinoff, saying the transaction could unlock more value for the parent company and supporting the stock as a buy idea. FedEx is a buy as freight business spinoff approaches, JPMorgan says
• Positive Sentiment: The new FedEx Freight company is expected to join major indexes quickly, including the S&P 500 and Dow Jones Transportation Average, which could create automatic index-related demand for the spun-off shares and reinforce investor attention on the separation. FedEx Freight Holding Set to Join Dow Jones Transportation Average
• Neutral Sentiment: Market coverage is also highlighting upcoming earnings and valuation debate around FedEx, with investors weighing whether the stock’s recent momentum can continue after the corporate restructuring.

About FedEx

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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