Fortis Group Advisors LLC Raises Stock Holdings in FedEx Corporation $FDX

Fortis Group Advisors LLC raised its position in shares of FedEx Corporation (NYSE:FDX) by 12,244.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,172 shares of the shipping service provider’s stock after acquiring an additional 6,122 shares during the period. Fortis Group Advisors LLC’s holdings in FedEx were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of FDX. Grey Fox Wealth Advisors LLC purchased a new stake in shares of FedEx during the 3rd quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx during the 3rd quarter worth approximately $28,000. Ameriflex Group Inc. raised 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 acquiring an additional 63 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on FDX shares. Bank of America upped their price objective on FedEx from $431.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Rothschild & Co Redburn upped their price objective on FedEx from $317.00 to $371.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Raymond James Financial upped their price objective on FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. UBS Group reaffirmed a “buy” rating on shares of FedEx in a report on Tuesday, May 5th. Finally, Jefferies Financial Group boosted their target price on FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $398.04.

FedEx Stock Performance

NYSE FDX opened at $386.22 on Thursday. The company has a market cap of $92.15 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The business’s 50 day moving average price is $369.79 and its 200-day moving average price is $331.43. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03.

FedEx (NYSE:FDX) last released its earnings results 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. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.51 EPS. Sell-side analysts predict that FedEx Corporation will post 19.72 earnings per share for the current year.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by company 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.