TD Private Client Wealth LLC Grows Stock Position in FedEx Corporation $FDX

TD Private Client Wealth LLC boosted its holdings in FedEx Corporation (NYSE:FDX) by 57.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,568 shares of the shipping service provider’s stock after buying an additional 1,673 shares during the period. TD Private Client Wealth LLC’s holdings in FedEx were worth $1,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 acquiring an additional 2,741,723 shares during the period. Dodge & Cox grew its holdings in FedEx by 12.0% in 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 during the period. Franklin Resources Inc. grew its holdings in FedEx by 5.9% in 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 during the period. Invesco Ltd. increased its position in FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in FedEx by 169.2% during the third 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 last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction 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 sale, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. The trade was a 36.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,104 shares of company stock worth $17,599,006. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Up 1.4%

NYSE FDX opened at $374.84 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03. The business has a 50 day moving average price of $369.29 and a two-hundred day moving average price of $330.46. The stock has a market cap of $89.44 billion, a PE ratio of 19.95, a P/E/G ratio of 1.40 and a beta of 1.29.

FedEx (NYSE:FDX) last posted 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 company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter last year, the firm posted $4.51 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of FedEx from $430.00 to $450.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Evercore upped their price objective on FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Raymond James Financial increased their target price on FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Rothschild & Co Redburn lifted their target price on FedEx from $317.00 to $371.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings upgraded FedEx from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.04.

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.