USA Financial Formulas bought a new position in shares of FedEx Corporation (NYSE:FDX – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,774 shares of the shipping service provider’s stock, valued at approximately $632,000.
Several other hedge funds have also recently added to or reduced their stakes in FDX. Hollencrest Capital Management acquired a new position in shares of FedEx during the first quarter worth $25,000. Bayban acquired a new stake in FedEx in the first quarter valued at $26,000. EFG International AG acquired a new stake in FedEx in the fourth quarter valued at $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx during the 3rd quarter worth about $28,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently commented on FDX. The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Stifel Nicolaus lowered their price target on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. HSBC dropped their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. Jefferies Financial Group initiated coverage on shares of FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective on the stock. Finally, Citigroup started coverage on shares of FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $350.54.
Insider Buying and Selling
In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.
Trending Headlines about FedEx
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
- Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
- Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
- Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
- Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
- Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California
FedEx Stock Down 1.4%
Shares of NYSE FDX opened at $334.56 on Friday. The business has a 50-day moving average price of $319.39 and a 200 day moving average price of $351.07. The stock has a market cap of $79.15 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.
FedEx (NYSE:FDX – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. Equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.
FedEx Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.
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.
Featured Stories
- Five stocks we like better than FedEx
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX – Free Report).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
