MEMPHIS, Tenn.—FedEx Corp. (NYSE:FDX) director Amy B. Lane has increased her holdings in the company with a recent purchase of common stock. According to a Form 4 filing with the Securities and Exchange Commission, Lane acquired 333 shares on December 26 at a weighted average price of $276.06 per share, totaling approximately $91,929. The purchase comes as FedEx, currently valued at $67.3 billion, trades near its InvestingPro Fair Value, suggesting balanced market pricing.
Following this transaction, Lane holds 4,072 shares of FedEx common stock through direct ownership. This acquisition also reflects a minor adjustment for three shares acquired via dividend reinvestment.
Lane's purchase was made through trusts, indicating a strategic move to bolster her investment in the global courier services giant.
In other recent news, FedEx has made significant strategic decisions that have caught the attention of investors and financial analysts alike. The company has announced the spin-off of its Less-Than-Truckload (LTL) division, a move that Stifel, TD Cowen, and BMO Capital believe could unlock substantial value and reduce the existing valuation disparity when compared to LTL industry peers.
Stifel has raised FedEx's target to $368, maintaining a buy rating. TD Cowen has also increased its target for FedEx to $337, maintaining a buy rating. BMO Capital raised its FedEx target to $330, citing cost reduction initiatives and plans for the LTL segment. However, Stephens reduced its FedEx target to $345, but maintained an overweight rating, noting stronger profitability in FedEx Express and softer earnings in the Freight segment. Bernstein SocGen Group modestly increased FedEx's target to $320, acknowledging challenges in the Freight segment and upcoming spinoff costs.
Despite the reported earnings not meeting all estimates, FedEx revised its annual EPS guidance downward, from the previously projected range of $20-21 to a new forecast of $19-20. This prompted 10 analysts to revise their earnings estimates downward for the upcoming period. The company continues to aim for $2.2 billion in annual cost savings from its DRIVE program, suggesting a significant increase in savings anticipated in the latter half of the fiscal year.
These are all recent developments, and investors and analysts will be closely watching FedEx's next moves.
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