FedEx Corporation $FDX Shares Sold by Capital International Investors

Capital International Investors cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,624,636 shares of the shipping service provider’s stock after selling 685,766 shares during the quarter. Capital International Investors’ holdings in FedEx were worth $1,047,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FDX. Norges Bank purchased a new position in shares of FedEx during the 4th quarter worth $859,085,000. Vanguard Group Inc. grew its holdings in shares of FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Boston Partners purchased a new position in shares of FedEx during the 3rd quarter worth $468,195,000. Dodge & Cox grew its holdings in shares of FedEx by 12.0% during the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. Sanford C. Bernstein increased their price target on FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a report on Thursday, April 9th. Stephens reiterated an “overweight” rating and set a $435.00 price target on shares of FedEx in a report on Tuesday, April 14th. Rothschild & Co Redburn cut their price objective on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Wells Fargo & Company upgraded FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Finally, Stifel Nicolaus boosted their price objective on FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Eighteen equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $372.41.

FedEx Price Performance

Shares of NYSE FDX opened at $331.59 on Friday. The stock’s 50-day moving average is $373.71 and its two-hundred day moving average is $340.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $341.14. The company has a market cap of $79.12 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28.

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

Insider Buying and Selling

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This 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 this link. Also, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction dated 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 approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last quarter. Company insiders own 0.53% of the company’s stock.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s debut as a separate company drew fresh analyst coverage and upbeat commentary, with some observers calling it a potential “true winner” and a catalyst for value creation at FedEx. FedEx Freight Stock (FDXF) Soars on Fresh Analyst Coverage
• Positive Sentiment: Analysts and market commentators said the spinoff may help FedEx streamline operations and fully launch its Network 2.0 initiative, which could improve margins and long-term earnings power. Is FedEx a Buy Following Its FedEx Freight Spinoff?
• Positive Sentiment: Jim Cramer highlighted the new breakup of FedEx as a long-awaited move that could be viewed favorably by investors looking for a cleaner, more focused company structure. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
• Neutral Sentiment: FedEx has recently outperformed some industrial peers, but commentary remains mixed, with valuation concerns and conflicting analyst views keeping enthusiasm in check. FedEx Stock: Is FDX Outperforming the Industrial Sector?
• Negative Sentiment: One FreightWaves report said a FedEx partner airline may face service risk on Caribbean routes without an FAA waiver, which could raise operational uncertainty for parts of the cargo network. FedEx partner airline says Caribbean service at risk without FAA waiver

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.