Franklin Resources Inc. Increases Stock Position in FedEx Corporation $FDX

Franklin Resources Inc. increased its position in shares of FedEx Corporation (NYSE:FDX) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,133,231 shares of the shipping service provider’s stock after buying an additional 318,293 shares during the period. Franklin Resources Inc.’s holdings in FedEx were worth $1,482,785,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH boosted its holdings in FedEx by 1.4% during the fourth quarter. Erste Asset Management GmbH now owns 14,699 shares of the shipping service provider’s stock worth $4,475,000 after buying an additional 199 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in FedEx by 69.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 553,129 shares of the shipping service provider’s stock worth $159,777,000 after buying an additional 225,856 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in FedEx by 48.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider’s stock worth $18,445,000 after buying an additional 20,940 shares in the last quarter. CenterBook Partners LP purchased a new stake in FedEx during the fourth quarter worth $534,000. Finally, Manchester Capital Management LLC boosted its holdings in FedEx by 106.3% during the fourth quarter. Manchester Capital Management LLC now owns 196 shares of the shipping service provider’s stock worth $57,000 after buying an additional 101 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Key FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight’s debut as a separate company drew fresh analyst coverage and upbeat commentary, with some observers calling it a potential “true winner” and a catalyst for value creation at FedEx. FedEx Freight Stock (FDXF) Soars on Fresh Analyst Coverage
• Positive Sentiment: Analysts and market commentators said the spinoff may help FedEx streamline operations and fully launch its Network 2.0 initiative, which could improve margins and long-term earnings power. Is FedEx a Buy Following Its FedEx Freight Spinoff?
• Positive Sentiment: Jim Cramer highlighted the new breakup of FedEx as a long-awaited move that could be viewed favorably by investors looking for a cleaner, more focused company structure. Why Jim Cramer Says Newly Public FedEx Freight Stock Could Be a ‘True Winner’
• Neutral Sentiment: FedEx has recently outperformed some industrial peers, but commentary remains mixed, with valuation concerns and conflicting analyst views keeping enthusiasm in check. FedEx Stock: Is FDX Outperforming the Industrial Sector?
• Negative Sentiment: One FreightWaves report said a FedEx partner airline may face service risk on Caribbean routes without an FAA waiver, which could raise operational uncertainty for parts of the cargo network. FedEx partner airline says Caribbean service at risk without FAA waiver

FedEx Stock Performance

NYSE:FDX opened at $331.59 on Monday. The company’s 50-day moving average price is $373.71 and its 200-day moving average price is $340.84. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The company has a market cap of $79.12 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.51 and a beta of 1.28. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $341.14.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $4.51 earnings per share. On average, sell-side analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BNP Paribas Exane decreased their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Citigroup assumed coverage on shares of FedEx in a report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $435.00 price objective on shares of FedEx in a report on Tuesday, April 14th. BMO Capital Markets decreased their price objective on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating on the stock in a report on Monday, June 1st. Finally, Susquehanna increased their price objective on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $372.41.

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, 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.