FedEx Corporation $FDX Stake Boosted by SCS Capital Management LLC

SCS Capital Management LLC boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,652 shares of the shipping service provider’s stock after buying an additional 5,454 shares during the period. SCS Capital Management LLC’s holdings in FedEx were worth $13,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Norges Bank acquired a new stake in FedEx during the 4th quarter worth about $859,085,000. Vanguard Group Inc. raised its holdings in 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 buying an additional 2,741,723 shares during the period. Boston Partners acquired a new stake in FedEx during the 3rd quarter worth about $468,195,000. Dodge & Cox raised its holdings in 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 buying an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC raised its holdings in 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 buying an additional 1,718,278 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FDX. Barclays upgraded FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday. Raymond James Financial boosted 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. BMO Capital Markets boosted their price objective on FedEx from $400.00 to $410.00 and gave the stock a “market perform” rating in a report on Friday, March 20th. Rothschild & Co Redburn boosted 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. Finally, Seaport Research Partners initiated coverage on FedEx in a report on Wednesday. They set a “buy” rating on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.69.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s spinoff is set to go live on June 1, and Wall Street commentary suggests the separation could unlock value for FedEx’s remaining business by sharpening its focus and simplifying the investment case. FedEx Freight (FDXF) Spinoff Goes Live June 1: Everything You Need to Know
• Positive Sentiment: JPMorgan reportedly turned constructive on FedEx ahead of the spinoff, saying the transaction could unlock more value for the parent company and supporting the stock as a buy idea. FedEx is a buy as freight business spinoff approaches, JPMorgan says
• Positive Sentiment: The new FedEx Freight company is expected to join major indexes quickly, including the S&P 500 and Dow Jones Transportation Average, which could create automatic index-related demand for the spun-off shares and reinforce investor attention on the separation. FedEx Freight Holding Set to Join Dow Jones Transportation Average
• Neutral Sentiment: Market coverage is also highlighting upcoming earnings and valuation debate around FedEx, with investors weighing whether the stock’s recent momentum can continue after the corporate restructuring.

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of the business’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 value of $7,493,902.50. Following the completion of the sale, the executive vice president owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by corporate insiders.

FedEx Price Performance

Shares of FDX opened at $412.11 on Monday. The company has a market capitalization of $98.33 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.57 and a beta of 1.28. FedEx Corporation has a fifty-two week low of $214.82 and a fifty-two week high of $413.87. 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’s 50-day moving average is $376.41 and its 200-day moving average is $338.62.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The company 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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. Equities research analysts expect that FedEx Corporation will post 19.63 EPS for the current fiscal year.

FedEx Company 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.