United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases New Shares in FedEx Corporation $FDX

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 100,289 shares of the shipping service provider’s stock, valued at approximately $28,969,000.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares in the last quarter. Dodge & Cox lifted its position in shares of FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 5.9% during the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after purchasing an additional 269,567 shares in the last quarter. Finally, Invesco Ltd. raised its position in FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after acquiring an additional 108,426 shares during the period. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FDX. Wells Fargo & Company raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research report on Wednesday. Weiss Ratings raised shares of FedEx from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Wolfe Research lowered their price objective on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Bank of America lifted their price objective on shares of FedEx from $431.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Jefferies Financial Group raised their target price on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.69.

Insider Activity

In related news, 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 transaction of $6,164,087.73. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company’s stock.

Key FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: JPMorgan upgraded FedEx to Overweight and lifted its price target to $460, signaling meaningful upside potential as the company approaches its freight separation. JPMorgan lifts FedEx to Overweight ahead of freight spin-off
• Positive Sentiment: Analysts say the FedEx Freight spin-off could unlock more value for the parent company by sharpening its focus and improving operating clarity. FedEx spin-off could unlock more value for remaining business—JP Morgan
• Positive Sentiment: FedEx Freight is expected to begin trading as an independent company on June 1 and is set to join the S&P 500 quickly, which reinforces investor interest in the transaction. FedEx Spin-Off Gets Rare S&P 500 Fast Pass As Freight Unit Prepares To Trade
• Positive Sentiment: Additional bullish coverage highlighted FedEx as a buy ahead of the freight spin-off, adding to the momentum around the stock. FedEx is a buy as freight business spinoff approaches, JPMorgan says
• Neutral Sentiment: Index changes tied to the spin-off should keep FedEx in the Dow Jones Transportation Average while the new freight company is added separately, but this is more of a technical market adjustment than a direct business driver. FedEx Freight Holding Set to Join Dow Jones Transportation Average

FedEx Stock Performance

NYSE FDX opened at $411.67 on Friday. The company’s 50 day moving average is $375.15 and its 200-day moving average is $337.51. FedEx Corporation has a 12-month low of $214.82 and a 12-month high of $413.70. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a market cap of $98.23 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29.

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

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.