CIBC Asset Management Inc Raises Position in FedEx Corporation $FDX

CIBC Asset Management Inc lifted its position in FedEx Corporation (NYSE:FDX) by 80.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,328 shares of the shipping service provider’s stock after buying an additional 25,185 shares during the period. CIBC Asset Management Inc’s holdings in FedEx were worth $16,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Wealth Watch Advisors INC bought a new stake in shares of FedEx in the 3rd quarter worth $28,000. Ameriflex Group Inc. raised its stake in shares of FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at $29,000. Tucker Asset Management LLC purchased a new stake in shares of FedEx during the fourth quarter valued at $29,000. Finally, ORG Partners LLC boosted 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 valued at $30,000 after buying an additional 35 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FDX. Citigroup initiated coverage on FedEx in a research report on Thursday, May 21st. They issued a “buy” rating and a $443.00 target price for the company. Jefferies Financial Group lifted their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Stephens restated an “overweight” rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Raymond James Financial assumed coverage on shares of FedEx in a report on Wednesday. They issued an “outperform” rating and a $180.00 target price on the stock. Finally, Wolfe Research cut their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $372.41.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Analysts and market commentators say the Freight spin-off could unlock value for FedEx by leaving the remaining Express and Ground businesses with better margin potential and a simpler structure. FedEx Unboxes Billions in Post Spinoff Value
• Positive Sentiment: Jim Cramer highlighted the new FedEx Freight spin-off as a potential winner, reinforcing bullish sentiment around the restructuring. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
• Positive Sentiment: Goldman Sachs reportedly reiterated a buy view on FedEx, suggesting some analysts remain constructive despite broader market volatility. FedEx (FDX) Receives a Buy from Goldman Sachs
• Neutral Sentiment: Several recent pieces focus on how FedEx is outperforming parts of the industrial sector and whether the stock deserves a higher valuation after its pullback, but these are more commentary-driven than new company-specific catalysts. FedEx Stock: Is FDX Outperforming the Industrial Sector?
• Negative Sentiment: Morgan Stanley warned that FedEx’s upcoming quarterly results could miss Street expectations because of margin pressure, which may cap gains until earnings are reported. FedEx Quarterly Earnings Could Miss Street Views Amid Margin Pressures, Morgan Stanley Says
• Negative Sentiment: There is also some caution around the newly public FedEx Freight business, with early trading and first-week commentary suggesting investors are still deciding how to value the spin-off. FedEx Freight is viewed cautiously in its first week of trading

FedEx Price Performance

Shares of NYSE:FDX opened at $328.03 on Friday. The firm has a market cap of $78.27 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.46 and a beta of 1.28. The firm has a fifty day moving average price of $374.23 and a 200 day moving average price of $340.37. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $341.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47.

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

Insider Transactions at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction that occurred on 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 of the company’s stock, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the sale, 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 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 over the last three months. Corporate insiders own 0.53% of the company’s stock.

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.