Legacy Wealth Asset Management LLC Grows Stake in FedEx Corporation $FDX

Legacy Wealth Asset Management LLC grew its stake in shares of FedEx Corporation (NYSE:FDX) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,550 shares of the shipping service provider’s stock after acquiring an additional 56 shares during the period. Legacy Wealth Asset Management LLC’s holdings in FedEx were worth $580,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. Jackson Thornton Wealth Management LLC bought a new position in FedEx in the 2nd quarter worth about $298,000. Avidian Wealth Enterprises LLC increased its stake in FedEx by 10.6% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 1,226 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 117 shares in the last quarter. FLC Capital Advisors raised its holdings in FedEx by 13.1% in the second quarter. FLC Capital Advisors now owns 2,399 shares of the shipping service provider’s stock worth $545,000 after buying an additional 277 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in shares of FedEx by 7.4% in the second quarter. Cidel Asset Management Inc. now owns 2,804 shares of the shipping service provider’s stock worth $637,000 after buying an additional 193 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC lifted its stake in shares of FedEx by 3.6% in the second quarter. Forvis Mazars Wealth Advisors LLC now owns 1,666 shares of the shipping service provider’s stock worth $379,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $242.80 on Wednesday. The business’s fifty day moving average is $232.46 and its 200 day moving average is $225.87. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. The company has a market capitalization of $57.29 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.12. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 EPS. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Sell-side analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were given a dividend of $1.45 per share. The ex-dividend date was Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.4%. FedEx’s dividend payout ratio (DPR) is presently 33.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FDX shares. Citigroup raised their price target on shares of FedEx from $275.00 to $279.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of FedEx in a report on Tuesday, October 14th. Truist Financial set a $285.00 price target on FedEx in a report on Tuesday, October 14th. BMO Capital Markets dropped their price objective on FedEx from $260.00 to $255.00 and set a “market perform” rating on the stock in a research report on Friday, September 19th. Finally, Cowen reiterated a “buy” rating on shares of FedEx in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $271.83.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.