Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in FedEx Corporation (NYSE:FDX – Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,496 shares of the shipping service provider’s stock after acquiring an additional 1,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FedEx were worth $7,656,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in FDX. Bayban bought a new position in FedEx during the first quarter worth $26,000. EFG International AG bought a new position in shares of FedEx in the fourth quarter valued at about $27,000. Wealth Watch Advisors INC bought a new position in shares of FedEx in the third quarter valued at about $28,000. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter worth about $29,000. Finally, Tucker Asset Management LLC acquired a new stake 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.
Wall Street Analyst Weigh In
A number of research analysts recently commented on FDX shares. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. Evercore set a $165.00 price objective on shares of FedEx in a research report on Friday, June 26th. Wells Fargo & Company reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Wall Street Zen raised FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Finally, Morgan Stanley upped their target price on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $349.60.
Insider Activity at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.
FedEx Trading Down 0.2%
FDX stock opened at $313.22 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company’s 50-day simple moving average is $345.84 and its 200 day simple moving average is $349.19. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a market capitalization of $74.74 billion, a PE ratio of 16.92 and a beta of 1.29.
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings data 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. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter in the previous year, the company earned $6.07 EPS. The business’s revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.
FedEx Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.
About FedEx
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 Articles
- Five stocks we like better than FedEx
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
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.
