OVERSEA CHINESE BANKING Corp Ltd Cuts Holdings in FedEx Corporation $FDX

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of FedEx Corporation (NYSE:FDX) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 2,348 shares of the shipping service provider’s stock after selling 97 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in FedEx were worth $534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its holdings in FedEx by 3.2% during the second quarter. WealthPlan Investment Management LLC now owns 1,439 shares of the shipping service provider’s stock worth $327,000 after purchasing an additional 44 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in FedEx by 2.6% during the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $457,000 after purchasing an additional 48 shares during the last quarter. SouthState Corp boosted its holdings in FedEx by 3.5% during the first quarter. SouthState Corp now owns 1,431 shares of the shipping service provider’s stock worth $349,000 after purchasing an additional 48 shares during the last quarter. Hendershot Investments Inc. boosted its holdings in FedEx by 4.3% during the first quarter. Hendershot Investments Inc. now owns 1,207 shares of the shipping service provider’s stock worth $294,000 after purchasing an additional 50 shares during the last quarter. Finally, Loudon Investment Management LLC boosted its stake in FedEx by 5.0% in the second quarter. Loudon Investment Management LLC now owns 1,050 shares of the shipping service provider’s stock valued at $239,000 after acquiring an additional 50 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. Citigroup boosted their target price on shares of FedEx from $275.00 to $279.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Evercore ISI dropped their target price on shares of FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. Jefferies Financial Group boosted their target price on shares of FedEx from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Dbs Bank upgraded shares of FedEx from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $274.00 target price (down from $284.00) on shares of FedEx in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.83.

FedEx Stock Performance

NYSE FDX opened at $247.41 on Tuesday. The company’s 50 day simple moving average is $233.44 and its two-hundred day simple moving average is $226.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The stock has a market capitalization of $58.38 billion, a PE ratio of 14.44, a P/E/G ratio of 1.34 and a beta of 1.28.

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

FedEx Announces Dividend

The company also recently declared 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. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, September 8th. FedEx’s payout ratio is 33.86%.

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.