FedEx Corporation $FDX Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its position in FedEx Corporation (NYSE:FDX) by 98.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,597 shares of the shipping service provider’s stock after purchasing an additional 33,612 shares during the period. Fifth Third Bancorp’s holdings in FedEx were worth $24,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC increased its stake in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the second quarter worth $586,000. Quantbot Technologies LP bought a new position in shares of FedEx in the 2nd quarter worth about $186,000. Finally, Jump Financial LLC bought a new position in shares of FedEx in the 2nd quarter worth about $456,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This trade represents a 36.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,796 shares of company stock worth $9,938,874 in the last three months. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDX. TD Cowen lowered their price objective on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Stifel Nicolaus decreased their target price on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Wells Fargo & Company lowered their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Morgan Stanley increased their price target on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Finally, BNP Paribas Exane cut their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.60.

FedEx Trading Down 0.4%

Shares of NYSE:FDX opened at $313.31 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $346.82 and its 200 day moving average price is $349.07. The company has a market cap of $74.76 billion, a PE ratio of 16.93 and a beta of 1.29. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, topping the consensus estimate of $5.91 by $0.40. The firm had revenue of $25.01 billion during 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%. FedEx’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio 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.