Cherokee Insurance Co Makes New $4.72 Million Investment in FedEx Corporation $FDX

Cherokee Insurance Co bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 20,750 shares of the shipping service provider’s stock, valued at approximately $4,717,000. FedEx accounts for approximately 2.1% of Cherokee Insurance Co’s holdings, making the stock its 14th biggest holding.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its holdings in FedEx by 121.8% during the second quarter. NewSquare Capital LLC now owns 122 shares of the shipping service provider’s stock valued at $28,000 after purchasing an additional 67 shares during the period. WPG Advisers LLC bought a new position in shares of FedEx during the first quarter worth $43,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock valued at $46,000 after buying an additional 71 shares during the period. Motco increased its position in shares of FedEx by 61.8% in the 1st quarter. Motco now owns 267 shares of the shipping service provider’s stock valued at $65,000 after buying an additional 102 shares in the last quarter. Finally, Rise Advisors LLC raised its stake in FedEx by 21.0% during the 1st quarter. Rise Advisors LLC now owns 340 shares of the shipping service provider’s stock worth $83,000 after buying an additional 59 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

NYSE FDX opened at $268.88 on Thursday. The firm’s 50 day moving average is $239.77 and its 200-day moving average is $230.99. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $63.44 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, topping the consensus estimate of $3.71 by $0.12. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.74 billion. During the same quarter in the prior year, the company posted $3.60 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Equities research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FDX shares. BMO Capital Markets decreased their target price on FedEx from $260.00 to $255.00 and set a “market perform” rating for the company in a research note on Friday, September 19th. Citigroup boosted their price objective on FedEx from $275.00 to $279.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Raymond James Financial reissued an “outperform” rating and set a $255.00 target price on shares of FedEx in a research note on Thursday, September 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $274.00 price target (down previously from $284.00) on shares of FedEx in a research note on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of FedEx in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $273.08.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.