Parkside Investments LLC Cuts Stock Holdings in FedEx Corporation $FDX

Key Points

• Parkside Investments LLC cut its FedEx stake by 22.7% in the fourth quarter, selling 3,575 shares and leaving it with 12,192 shares worth about $3.52 million.
• FedEx reported a strong quarterly beat, earning $5.25 per share versus the $4.12 estimate and posting revenue of $24 billion, up 8.3% year over year.
• Analysts remain broadly positive on the stock, with FedEx carrying a Moderate Buy rating and an average target price of $399.62, while several insiders recently sold shares.

Parkside Investments LLC decreased its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,192 shares of the shipping service provider's stock after selling 3,575 shares during the quarter. Parkside Investments LLC's holdings in FedEx were worth $3,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LRI Investments LLC grew its holdings in shares of FedEx by 5.2% during the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock worth $183,000 after purchasing an additional 31 shares in the last quarter. Legacy Bridge LLC lifted its position in FedEx by 33.0% in the 4th quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider's stock worth $38,000 after buying an additional 33 shares during the last quarter. True Wealth Design LLC lifted its position in FedEx by 8.2% in the 4th quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after buying an additional 35 shares during the last quarter. ORG Partners LLC lifted its position in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after buying an additional 35 shares during the last quarter. Finally, Moneco Advisors LLC lifted its position in FedEx by 3.9% in the 4th quarter. Moneco Advisors LLC now owns 968 shares of the shipping service provider's stock worth $280,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX stock opened at $394.18 on Tuesday. 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 fifty-two week low of $214.35 and a fifty-two week high of $404.03. The stock has a 50 day moving average price of $371.88 and a two-hundred day moving average price of $334.37. The company has a market capitalization of $94.05 billion, a P/E ratio of 20.98, a PEG ratio of 1.49 and a beta of 1.29.

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

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent research reports. Rothschild & Co Redburn boosted their target price on FedEx from $317.00 to $371.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Citigroup initiated coverage on FedEx in a research report on Thursday, May 21st. They issued a "buy" rating and a $443.00 target price for the company. The Goldman Sachs Group boosted their target price on FedEx from $364.00 to $369.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. JPMorgan Chase & Co. restated a "neutral" rating on shares of FedEx in a research report on Tuesday, May 12th. Finally, Morgan Stanley boosted their target price on FedEx from $220.00 to $230.00 and gave the stock an "underweight" rating in a research report on Friday, March 20th. Eighteen research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $399.62.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 5,795 shares of the company'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 transaction of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares in the company, valued at $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 available through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,104 shares of company stock worth $17,599,006. Company insiders own 0.53% of the company's stock.

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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