Kingsview Wealth Management LLC Buys 11,136 Shares of FedEx Corporation $FDX

Kingsview Wealth Management LLC grew its stake in FedEx Corporation (NYSE:FDX) by 32.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,073 shares of the shipping service provider’s stock after purchasing an additional 11,136 shares during the quarter. Kingsview Wealth Management LLC’s holdings in FedEx were worth $13,020,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. LRI Investments LLC lifted its holdings in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after purchasing an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock valued at $84,000 after purchasing an additional 31 shares in the last quarter. Legacy Bridge LLC lifted its holdings in shares of FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock valued at $38,000 after purchasing an additional 33 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock valued at $133,000 after purchasing an additional 35 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. Argus raised their target price on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. Seaport Research Partners initiated coverage on FedEx in a report on Wednesday. They issued a “buy” rating on the stock. TD Cowen raised their target price on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group started coverage on FedEx in a report on Wednesday. They set a “buy” rating on the stock. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $400.69.

Insider Transactions at FedEx

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction 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 completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $411.29 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a fifty day simple moving average of $374.01 and a two-hundred day simple moving average of $336.46. FedEx Corporation has a 1 year low of $214.82 and a 1 year high of $413.70. The company has a market capitalization of $98.14 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.52 and a beta of 1.29.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same period last year, the business posted $4.51 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that FedEx Corporation will post 19.72 earnings per share for the current year.

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: JPMorgan upgraded FedEx to Overweight from Neutral and raised its price target to $460 from $432, saying the stock looks attractive ahead of a pivotal period for the logistics company. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
• Positive Sentiment: JPMorgan also said the planned freight spin-off could unlock shareholder value and improve transparency, reinforcing the bull case for the remaining FedEx business. FedEx spin-off could unlock more value for remaining business—J.P. Morgan
• Positive Sentiment: S&P announced that the FedEx Freight holding company will join the S&P 500, a development that can support index-related demand and highlights the significance of the separation. FedEx Freight Holding Company Set to Join S&P 500; EPAM Systems and Dave to Join S&P SmallCap 600
• Neutral Sentiment: Additional market commentary described FedEx as a long-term momentum stock, reflecting broader investor interest but offering no new fundamental catalyst. Why FedEx (FDX) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: FedEx also continued to receive positive press around its logistics footprint and brand, but these items are not major stock-moving news by themselves. Delivering History: FedEx Brings Millions of Years of the Past to the Present

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.