R Squared Ltd bought a new stake in FedEx Corporation (NYSE:FDX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,101 shares of the shipping service provider’s stock, valued at approximately $1,105,000. FedEx comprises approximately 0.6% of R Squared Ltd’s investment portfolio, making the stock its 22nd biggest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayban acquired a new position in shares of FedEx in the first quarter valued at approximately $26,000. EFG International AG acquired a new stake in FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx in the 3rd quarter worth approximately $28,000. Ameriflex Group Inc. grew its stake in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new position in FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on FDX shares. HSBC decreased their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Barclays reduced their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Citigroup raised their price target on FedEx from $356.73 to $359.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. BNP Paribas Exane lowered their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.60.
Insider Activity at FedEx
In other FedEx news, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,146 shares of company stock worth $19,235,438 over the last ninety days. Company insiders own 0.53% of the company’s stock.
FedEx Trading Up 1.0%
Shares of FDX stock traded up $3.25 during mid-day trading on Tuesday, reaching $313.18. The company’s stock had a trading volume of 263,177 shares, compared to its average volume of 2,294,071. The company’s 50 day simple moving average is $356.40 and its 200-day simple moving average is $348.06. The firm has a market capitalization of $74.73 billion, a PE ratio of 16.93 and a beta of 1.29. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. 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 (NYSE:FDX – Get Free Report) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.
FedEx Cuts Dividend
The firm also recently disclosed 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. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 26.36%.
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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