The Vanguard Group, Inc. recently announced the acquisition of new stake in Fedex Corp (NYSE:FDX). The institutional investor has increased its shareholding in the Industrials company by 0.30% to 17.76 million shares with purchase of 53364.0 shares. This fresh investment now brings its stake to 7.06% valued currently at $4.6 billion. In addition, BlackRock Fund Advisors raised its holdings by 84118.0 to 10.38 million shares. And Capital Research & Management Co has lifted its position by 234.72% or 4.06 million shares – to 5.79 million shares.
Currently, there are 251.19M common shares owned by the public and among those 230.53M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 69 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 53 of these insider trades were purchases, accounting for 343,494 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 206,463 shares.
The top 3 mutual fund holders in Fedex Corp are Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market ETF. Dodge & Cox Stock Fund owns 9.53 million shares of the company’s stock, all valued at over $2.47 billion. The company sold -0.11 million shares recently to bring their total holdings to about 3.79% of the shares outstanding. Vanguard Total Stock Market ETF bought 33811.0 shares to bring its total holdings to over 7.08 million shares at a value of $1.83 billion. Vanguard Total Stock Market ETF now owns shares totaling to 2.82% of the shares outstanding.
However, the script later moved the day high at 283.58, down -0.68%. The company’s stock has a 5-day price change of 2.56% and 11.77% over the past three months. FDX shares are trading 61.66% year to date (YTD), with the 12-month market performance up to 63.06% higher. It has a 12-month low price of $162.61 and touched a high of $285.53 over the same period. FDX has an average intraday trading volume of 1.84 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.48%, 10.48%, and 14.77% respectively.
Institutional ownership of Fedex Corp (NYSE: FDX) shares accounts for 75.94% of the company’s 251.19M shares outstanding. Mutual fund holders own 41.18%, while other institutional holders and individual stakeholders account for 9.46% and 34.94% respectively.
It has a market capitalization of $70.40B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 17.07, while the earnings-per-share (ttm) stands at $16.40. The company has a PEG of 0.76 and a Quick Ratio of 1.32 with the debt-to-equity ratio at 1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.19% over the week and 1.80% over the month.
Analysts forecast that Fedex Corp (FDX) will achieve an EPS of $4.2 for the current quarter, $3.94 for the next quarter and $22.31 for 2025. The lowest estimate earnings-per-share for the quarter is $3.65 while analysts give the company a high EPS estimate of $4.54. Comparatively, EPS for the current quarter was $3.18 a year ago. Earnings per share for the fiscal year are expected to increase by 21.64%, and 22.72% over the next financial year. EPS should grow at an annualized rate of 22.50% over the next five years, compared to -1.59% over the past 5-year period.
Looking at the support for the FDX, a number of firms have released research notes about the stock. TD Cowen stated their Outperform rating for the stock in a research note on December 12, 2023, with the firm’s price target at $290-$293.
