Cibc World Market Inc. Buys 23,740 Shares of FedEx Corporation $FDX

Cibc World Market Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 27.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,557 shares of the shipping service provider’s stock after purchasing an additional 23,740 shares during the period. Cibc World Market Inc.’s holdings in FedEx were worth $32,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Wealth Watch Advisors INC purchased a new position in FedEx during the 3rd quarter worth $28,000. Ameriflex Group Inc. increased its holdings in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after buying an additional 63 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx in the fourth quarter worth $29,000. Tucker Asset Management LLC purchased a new position in shares of FedEx during the fourth quarter worth $29,000. Finally, ORG Partners LLC raised its holdings 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 purchasing an additional 35 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of FedEx from $425.00 to $442.00 in a report on Friday, April 10th. TD Cowen boosted their price objective on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. Argus upped their target price on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wall Street Zen downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $372.41.

Key Stories Impacting 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

NYSE:FDX opened at $328.03 on Friday. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $341.14. 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 stock has a market capitalization of $78.27 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.46 and a beta of 1.28. The stock’s 50-day moving average price is $374.23 and its 200-day moving average price is $340.37.

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

Insiders Place Their Bets

In related news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. 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.