NewEdge Wealth LLC Increases Stock Position in FedEx Corporation $FDX

NewEdge Wealth LLC lifted its position in shares of FedEx Corporation (NYSE:FDX) by 39.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,539 shares of the shipping service provider’s stock after purchasing an additional 1,566 shares during the period. NewEdge Wealth LLC’s holdings in FedEx were worth $1,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grey Fox Wealth Advisors LLC purchased a new position in shares of FedEx in the 3rd quarter worth about $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx during the 3rd quarter worth about $28,000. Ameriflex Group Inc. grew its holdings in shares of FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares during the period. Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth about $29,000. Finally, ORG Partners LLC increased its position in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx’s board approved the spin-off of its FedEx Freight unit, a move that should sharpen the company’s focus on its higher-margin package and air network businesses and could unlock value for shareholders. FedEx Board of Directors Approves Spin-off of FedEx Freight
• Positive Sentiment: The company set the distribution ratio for the freight spinoff at one FedEx Freight share for every two FedEx shares held, and the new Freight entity is expected to begin trading on June 1, giving investors clearer visibility into the transaction timeline. FedEx sets one-for-two share ratio for freight unit spinoff
• Neutral Sentiment: FedEx management said Amazon’s new logistics offering is not a major threat to its business, suggesting the company believes its network and services remain differentiated. FedEx Boss Dismisses Threat From New Amazon Logistics Service
• Neutral Sentiment: Analysts at JPMorgan kept a neutral view on FDX, while Barclays reportedly reiterated a buy rating, indicating Wall Street remains mixed but generally constructive on the stock after the restructuring news. FedEx (NYSE:FDX) Receives “Neutral” Rating from JPMorgan Chase & Co.
• Negative Sentiment: The stock was also described as sliding in the latest session, reflecting some profit-taking or caution even as the broader market rose. FedEx (FDX) Stock Slides as Market Rises: Facts to Know Before You Trade

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. Sanford C. Bernstein increased their price objective on shares of FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. BMO Capital Markets raised their target price on shares of FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Stephens restated an “overweight” rating and set a $435.00 target price on shares of FedEx in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $479.00 price target on shares of FedEx in a research report on Friday, February 13th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $398.04.

Insiders Place Their Bets

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This trade represents a 51.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares in the company, valued at $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 have sold 48,104 shares of company stock valued at $17,599,006 over the last ninety days. Insiders own 0.53% of the company’s stock.

FedEx Stock Down 1.8%

Shares of NYSE:FDX opened at $369.50 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 52-week low of $214.35 and a 52-week high of $404.03. The company has a 50 day moving average of $369.26 and a two-hundred day moving average of $326.86. The company has a market capitalization of $88.17 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.29.

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

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s dividend payout ratio is presently 30.87%.

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.