FedEx Corporation $FDX Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in shares of FedEx Corporation (NYSE:FDX) by 1,060.2% during the fourth quarter, Holdings Channel reports. The fund owned 526,144 shares of the shipping service provider’s stock after acquiring an additional 480,793 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in FedEx were worth $151,982,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of FedEx by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock worth $8,243,000 after purchasing an additional 3,514 shares during the last quarter. Savant Capital LLC increased its position in shares of FedEx by 32.5% in the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock worth $9,437,000 after purchasing an additional 9,806 shares during the last quarter. National Pension Service increased its position in shares of FedEx by 3.9% in the 3rd quarter. National Pension Service now owns 633,376 shares of the shipping service provider’s stock worth $149,356,000 after purchasing an additional 23,563 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of FedEx in the 3rd quarter worth about $171,960,000. Finally, Applied Finance Capital Management LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $727,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president directly 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on shares of FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Raymond James Financial boosted their target price on shares of FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $479.00 target price on shares of FedEx in a research report on Friday, February 13th. Finally, Bank of America lifted their price target on shares of FedEx from $431.00 to $440.00 and gave the company a “buy” rating in a report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $398.04.

FedEx Trading Down 1.1%

FedEx stock opened at $375.99 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $369.04 and a two-hundred day moving average price of $328.17. The firm has a market capitalization of $89.71 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.42 and a beta of 1.29. FedEx Corporation has a 52-week low of $214.35 and a 52-week high of $404.03.

FedEx (NYSE:FDX) last posted its earnings results 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. The firm had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.51 EPS. Sell-side analysts expect that FedEx Corporation will post 19.72 earnings per share for the current year.

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.