Pictet Asset Management Holding SA Boosts Position in FedEx Corporation $FDX

Pictet Asset Management Holding SA grew its stake in shares of FedEx Corporation (NYSE:FDX) by 5.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 95,477 shares of the shipping service provider’s stock after acquiring an additional 5,345 shares during the period. Pictet Asset Management Holding SA’s holdings in FedEx were worth $34,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EFG International AG bought a new stake in FedEx during the 4th quarter worth approximately $27,000. Wealth Watch Advisors INC bought a new position in FedEx in the 3rd quarter valued at $28,000. Ameriflex Group Inc. boosted its holdings in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Ulland Investment Advisors LLC purchased a new position in shares of FedEx during the 4th quarter valued at $29,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter worth $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $313.44 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $74.79 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28. The business’s 50-day moving average price is $361.08 and its 200-day moving average price is $347.43. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates 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%.FedEx’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Sell-side analysts forecast that FedEx Corporation will post 20.89 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. Bank of America lifted their price objective on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Rothschild & Co Redburn decreased their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Wells Fargo & Company lowered their price target on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target for the company. Finally, BNP Paribas Exane cut their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.60.

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.