Soltis Investment Advisors LLC Buys 10,699 Shares of FedEx Corporation $FDX

Soltis Investment Advisors LLC raised its stake in FedEx Corporation (NYSE:FDX) by 979.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,791 shares of the shipping service provider’s stock after purchasing an additional 10,699 shares during the period. Soltis Investment Advisors LLC’s holdings in FedEx were worth $3,406,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FDX. Grey Fox Wealth Advisors LLC bought a new stake in FedEx in the 3rd quarter valued at $27,000. Wealth Watch Advisors INC bought a new stake in FedEx in the 3rd quarter valued at $28,000. Ameriflex Group Inc. boosted 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 valued at $29,000 after purchasing an additional 63 shares during the period. Ulland Investment Advisors LLC bought a new stake in FedEx in the 4th quarter valued at $29,000. Finally, ORG Partners LLC boosted its holdings in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after purchasing an additional 35 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 1.1%

Shares of FDX stock opened at $375.99 on Friday. FedEx Corporation has a 52-week low of $214.35 and a 52-week high of $404.03. The stock has a market cap of $89.71 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The firm has a fifty day moving average of $369.04 and a 200-day moving average of $328.17.

FedEx (NYSE:FDX) last announced 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 during the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the prior year, the company posted $4.51 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FDX shares. Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. TD Cowen increased their price target on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. HSBC raised shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price target for the company in a report on Friday, March 20th. Evercore increased their price objective on shares of FedEx from $364.00 to $380.00 in a research note on Tuesday, February 24th. Finally, BMO Capital Markets increased their price objective on shares of FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $398.04.

Insider Activity

In related news, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction dated 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 transaction, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. Company 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.