Moran Wealth Management LLC Decreases Holdings in FedEx Corporation $FDX

Moran Wealth Management LLC reduced its holdings in shares of FedEx Corporation (NYSE:FDX) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,254 shares of the shipping service provider’s stock after selling 13,113 shares during the quarter. FedEx makes up 0.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Moran Wealth Management LLC’s holdings in FedEx were worth $26,804,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bayban purchased a new stake in FedEx during the first quarter worth approximately $26,000. EFG International AG acquired a new position in FedEx in the fourth quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the third quarter valued at approximately $28,000. Ameriflex Group Inc. raised its holdings in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in FedEx during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated 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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,146 shares of company stock valued at $19,235,438 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Truist Financial cut their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Barclays reduced their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley raised their price objective on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Eighteen equities research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $349.60.

FedEx Price Performance

FDX stock opened at $313.21 on Friday. The company has a market capitalization of $74.73 billion, a P/E ratio of 16.92, a PEG ratio of 1.36 and a beta of 1.29. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The business has a 50 day simple moving average of $356.40 and a 200-day simple moving average of $347.60. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. The business had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.07 EPS. 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 $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 1.6%. FedEx’s payout ratio is currently 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.