GFS Advisors LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,669 shares of the shipping service provider’s stock after selling 2,056 shares during the period. FedEx accounts for 3.2% of GFS Advisors LLC’s holdings, making the stock its 7th biggest holding. GFS Advisors LLC’s holdings in FedEx were worth $27,924,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Brighton Jones LLC boosted its stake in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC boosted its stake in FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in FedEx in the second quarter valued at approximately $586,000. Quantbot Technologies LP acquired a new stake in FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC acquired a new stake in FedEx in the second quarter valued at approximately $456,000. 84.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on FDX. Seaport Research Partners began coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Bank of America lowered their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. BNP Paribas Exane lowered their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and raised their target price for the company from $432.00 to $460.00 in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group lowered their target price on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.41.
FedEx News Roundup
Here are the key news stories impacting FedEx this week:
- Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
- Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
- Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
- Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
- Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight
Insider Transactions at FedEx
In related news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.
FedEx Trading Up 0.5%
NYSE:FDX opened at $331.79 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $373.06 and a 200-day simple moving average of $341.80. The company has a market capitalization of $79.17 billion, a P/E ratio of 17.66, a PEG ratio of 1.50 and a beta of 1.28. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $341.14.
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, beating the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.51 EPS. On average, equities research analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current year.
FedEx Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a $1.22 dividend. The ex-dividend date is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is currently 30.87%.
FedEx 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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