Mesirow Financial Investment Management Inc. Trims Stake in FedEx Corporation $FDX

Mesirow Financial Investment Management Inc. reduced its position in FedEx Corporation (NYSE:FDX) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,161 shares of the shipping service provider’s stock after selling 5,381 shares during the quarter. FedEx accounts for approximately 0.7% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 29th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in FedEx were worth $36,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Grey Fox Wealth Advisors LLC purchased a new stake in FedEx in the 3rd quarter worth about $27,000. Wealth Watch Advisors INC purchased a new position in shares of FedEx during the third quarter worth approximately $28,000. Ameriflex Group Inc. increased its position in shares of FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the period. Ulland Investment Advisors LLC purchased a new position in shares of FedEx during the fourth quarter worth approximately $29,000. Finally, ORG Partners LLC increased its position in shares of FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Sanford C. Bernstein raised their target price 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. Truist Financial raised their target price on shares of FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Bank of America raised their target price 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, BMO Capital Markets raised their target price on shares of FedEx from $400.00 to $410.00 and gave the stock a “market perform” rating in a research report on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $398.04.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’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 completion of the sale, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 in the last ninety days. Company insiders own 0.53% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $369.50 on Thursday. 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 firm’s 50 day moving average price is $369.26 and its 200-day moving average price is $326.86. FedEx Corporation has a 52-week low of $214.35 and a 52-week high of $404.03. The company has a market cap of $88.17 billion, a PE ratio of 19.66, a P/E/G ratio of 1.43 and a beta of 1.29.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were paid a dividend of $1.45 per share. The ex-dividend date was Monday, March 9th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

More FedEx News

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

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.