Soltis Investment Advisors LLC Has $3.41 Million Stock Holdings in FedEx Corporation $FDX

Key Points

• Soltis Investment Advisors sharply increased its FedEx position by 979.8% in the fourth quarter, ending with 11,791 shares valued at about $3.41 million.
• FedEx reported better-than-expected quarterly results, with EPS of $5.25 versus $4.12 expected and revenue of $24 billion, up 8.3% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $398.04, even as some company insiders sold shares recently.

Soltis Investment Advisors LLC raised its stake in FedEx Corporation (NYSE:FDX - Free Report) by 979.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,791 shares of the shipping service provider's stock after buying an additional 10,699 shares during the quarter. Soltis Investment Advisors LLC's holdings in FedEx were worth $3,406,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FDX. Brighton Jones LLC increased its stake in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after buying an additional 207 shares during the period. Empowered Funds LLC increased its stake in FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new position in FedEx in the 2nd quarter valued at approximately $586,000. Quantbot Technologies LP bought a new stake in FedEx in the second quarter worth approximately $186,000. Finally, Jump Financial LLC bought a new stake in FedEx in the second quarter worth approximately $456,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

NYSE FDX opened at $375.99 on Friday. 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 company has a fifty day simple moving average of $369.04 and a 200 day simple moving average of $328.17. The company 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. FedEx Corporation has a 1 year low of $214.35 and a 1 year high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.51 EPS. On average, sell-side analysts predict that FedEx Corporation will post 19.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. TD Cowen boosted their target price on shares of FedEx from $383.00 to $426.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Weiss Ratings raised shares of FedEx from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Truist Financial boosted their target price on shares of FedEx from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Zacks Research downgraded shares of FedEx from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 18th. Finally, HSBC raised shares of FedEx from a "reduce" rating to a "hold" rating and set a $360.00 target price for the company in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $398.04.

Insider Activity

In related 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares of the company's stock, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

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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