6,900 Shares in FedEx Corporation $FDX Purchased by Freemont Management S.A.

Freemont Management S.A. bought a new position in FedEx Corporation (NYSE:FDX) in the first quarter, HoldingsChannel reports. The fund bought 6,900 shares of the shipping service provider’s stock, valued at approximately $2,458,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. State Street Corp boosted its holdings in shares of FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after acquiring an additional 382,848 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Invesco Ltd. lifted its position in FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after purchasing an additional 108,426 shares during the period. Finally, Norges Bank bought a new position in FedEx during the fourth quarter valued at approximately $859,085,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $313.17 on Friday. The firm has a 50 day moving average of $342.12 and a 200 day moving average of $349.22. 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 $74.72 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

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 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%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

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

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of research analyst reports. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Evercore set a $165.00 price target on FedEx in a report on Friday, June 26th. BNP Paribas Exane dropped their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Bank of America lifted their price objective on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

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.