Institute for Wealth Management LLC. Trims Stake in FedEx Corporation $FDX

Institute for Wealth Management LLC. lessened its holdings in FedEx Corporation (NYSE:FDX) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,258 shares of the shipping service provider’s stock after selling 53 shares during the quarter. Institute for Wealth Management LLC.’s holdings in FedEx were worth $2,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in FedEx by 1.4% in the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider’s stock worth $4,994,848,000 after purchasing an additional 289,655 shares during the period. Invesco Ltd. grew its holdings in FedEx by 1.4% in the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider’s stock worth $795,940,000 after purchasing an additional 43,989 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in FedEx by 7.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,030,687 shares of the shipping service provider’s stock worth $495,041,000 after purchasing an additional 135,290 shares during the period. ACR Alpine Capital Research LLC grew its holdings in FedEx by 85.9% in the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider’s stock worth $386,399,000 after purchasing an additional 732,266 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in FedEx by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,506,226 shares of the shipping service provider’s stock worth $367,188,000 after purchasing an additional 5,490 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.4%

Shares of FDX stock opened at $235.73 on Wednesday. The company has a market capitalization of $55.62 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.31 and a beta of 1.20. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53. The company’s fifty day moving average price is $229.60 and its 200-day moving average price is $225.93. 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 (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, beating the consensus estimate of $3.71 by $0.12. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $3.60 EPS. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Sell-side analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 33.86%.

Analysts Set New Price Targets

FDX has been the topic of a number of recent research reports. Stifel Nicolaus cut their price objective on shares of FedEx from $308.00 to $296.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Bank of America increased their price target on shares of FedEx from $240.00 to $244.00 and gave the company a “neutral” rating in a report on Friday, September 19th. JPMorgan Chase & Co. cut their price target on shares of FedEx from $285.00 to $284.00 and set an “overweight” rating on the stock in a report on Friday, September 19th. BNP Paribas Exane upgraded shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Thursday, July 3rd. Finally, Wolfe Research increased their price target on shares of FedEx from $244.00 to $254.00 and gave the company an “outperform” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $271.67.

Insider Activity

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last three months. Company insiders own 0.53% of the company’s stock.

FedEx Company 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.