Amy Lane Bought More FedEx Shares As Stock Soars

In spite of FedEx FDX -0.73% stock surging this year, the decline it suffered in 2022 has not yet been erased by this year's increase. As a result of her acquisition of shares in the logistics giant, Amy B. Lane scooped up shares of the company.

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FedEx (ticker: FDX) has recorded a gain of more than 30% over the past year, which isn't surprising given that it is coming off the back of a massive earnings report and announcing a large dividend increase in its recent quarterly report. As soon as FedEx announced in early April that it was combining its Ground and Express delivery units into one, Wall Street cheered the decision, promising to make the delivery process more efficient.

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As a result of the company's disappointing earnings in September 2022 and its withdrawal of guidance, the stock of the delivery giant sank in September 2022. There was a 33% drop in the stock price at the end of the year.

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The purchase price of 830 shares was $193,300 on April 6 while the average share price amounted to $232.88. According to the Securities and Exchange Commission's filing with her, she now owns 2,359 shares of the company.

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In response to a request for comment on the purchase, FedEx did not respond. It was in January 2023, at an average price of $175.83, that she purchased 280 shares of FedEx stock on the open market for $49,232. As of 2022, Lane was a FedEx director and a retired Merrill Lynch executive.

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FedEx's stock price target was set at $285 by Raymond James analyst Patrick Tyler Brown on April 6. In a research report, Brown wrote that FedEx's management "appears to have a tangible plan of attack," and is prepared to deliver "improved shareholder returns." It was a "watershed announcement" when Express and Ground were combined.

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