Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 8,578 FedEx Corporation $FDX

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the 4th quarter, HoldingsChannel reports. The firm bought 8,578 shares of the shipping service provider’s stock, valued at approximately $2,478,000.

Several other institutional investors have also added to or reduced their stakes in FDX. Vanguard Group Inc. grew its holdings in shares of FedEx by 13.2% in the third 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 shares of FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. Franklin Resources Inc. grew its holdings in shares of FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after acquiring an additional 269,567 shares during the period. Invesco Ltd. grew its holdings in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after acquiring an additional 108,426 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of FedEx by 169.2% in 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 acquiring an additional 1,718,278 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE FDX opened at $386.22 on Thursday. The company has a market capitalization of $92.15 billion, a PE ratio of 20.55, a price-to-earnings-growth 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 business’s fifty day moving average is $369.79 and its 200 day moving average is $331.43. FedEx Corporation has a fifty-two week low of $214.35 and a fifty-two week high of $404.03.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $4.51 earnings per share. Sell-side analysts predict that FedEx Corporation will post 19.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Raymond James Financial lifted their price objective on FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Barclays reaffirmed a “buy” rating on shares of FedEx in a report on Monday, May 11th. Evercore lifted their price objective on FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of FedEx in a report on Tuesday, May 5th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $398.04.

Insider Buying and Selling

In related news, EVP Tracy B. Brightman sold 16,959 shares of FedEx 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 transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 over the last three months. 0.53% of the stock is currently owned by company insiders.

FedEx 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.