Birchbrook Inc. decreased its holdings in FedEx Corporation (NYSE:FDX – Free Report) by 44.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,010 shares of the shipping service provider’s stock after selling 1,585 shares during the period. Birchbrook Inc.’s holdings in FedEx were worth $629,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in FedEx during the 4th quarter valued at approximately $859,085,000. Boston Partners purchased a new position in shares of FedEx in the third quarter worth $468,195,000. AQR Capital Management LLC boosted its position in shares of FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the last quarter. Waddell & Associates LLC grew its stake in FedEx by 164.0% during the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after acquiring an additional 738,122 shares in the last quarter. Finally, Amundi grew its stake in FedEx by 181.9% during the first quarter. Amundi now owns 1,015,844 shares of the shipping service provider’s stock valued at $361,823,000 after acquiring an additional 655,504 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.
Insider Buying and Selling at FedEx
In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
FedEx Stock Up 0.9%
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 during the quarter. On average, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.
FedEx Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s payout ratio is 26.36%.
Analyst Upgrades and Downgrades
FDX has been the topic of several research analyst reports. Barclays decreased their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. BNP Paribas Exane reduced their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Citigroup assumed coverage on FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. The Goldman Sachs Group dropped their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Finally, TD Cowen cut their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.54.
Read Our Latest Stock Analysis on FDX
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.
Read More
- Five stocks we like better than FedEx
- Quantum Earnings Week: Winners and Losers Are Finally Emerging
- Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth
- Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside
- AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish
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.
