Parnassus Investments LLC cut its holdings in FedEx Corporation (NYSE:FDX – Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,041 shares of the shipping service provider’s stock after selling 12,501 shares during the quarter. Parnassus Investments LLC’s holdings in FedEx were worth $85,226,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the last quarter. Dodge & Cox grew its position in shares of FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. Franklin Resources Inc. grew its position in shares of FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the last quarter. Geode Capital Management LLC grew its position in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after buying an additional 108,426 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting FedEx
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: Analysts say FedEx’s core express segment remains strong, helped by higher revenue per package and rising U.S. volumes, which supports the case for continued operating momentum. FedEX: Expecting Continued Delivery Strength Ahead Of Q4
- Positive Sentiment: The completed June 1 spin-off of FedEx Freight could benefit the parent company by simplifying the business and allowing investors to focus on the higher-margin remaining operations. FedEx Reshapes Freight And Asia Pacific Strategy As Valuation Gap Persists
- Neutral Sentiment: Commentary around FedEx being a “strong value stock” and investor interest in the name may be helping sentiment, but these notes are more valuation-focused than catalyst-driven. Here's Why FedEx (FDX) is a Strong Value Stock
- Negative Sentiment: Broader transport stocks sold off after Amazon expanded its shipping and less-than-truckload offerings, raising competitive pressure concerns for FedEx Freight and the logistics sector. Amazon’s Trucking Push Sparks New Slide in Transport Stocks
- Negative Sentiment: Some valuation models still suggest FDX may be trading above intrinsic value, which could limit upside if results don’t justify the recent rally. FDX DCF Analysis: Intrinsic Value $249 vs Price $332
Insider Activity at FedEx
FedEx Stock Performance
NYSE:FDX opened at $338.51 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The company has a market cap of $80.77 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.45 and a beta of 1.28. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $341.14. The firm’s 50 day moving average is $372.27 and its two-hundred day moving average is $342.68.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.51 earnings per share. Analysts expect that FedEx Corporation will post 19.72 EPS for the current year.
FedEx Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.4%. FedEx’s dividend payout ratio (DPR) is currently 30.87%.
Analyst Ratings Changes
Several equities analysts recently issued reports on FDX shares. Citigroup started coverage on shares of FedEx in a research note on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective on the stock. BMO Capital Markets reduced their price objective on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating on the stock in a research note on Monday, June 1st. Rothschild & Co Redburn reduced their price objective on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Jefferies Financial Group upped their price objective on shares of FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $372.41.
Check Out Our Latest Analysis on FedEx
FedEx Company Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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