FedEx Corporation $FDX Shares Sold by Strs Ohio

Strs Ohio decreased its holdings in shares of FedEx Corporation (NYSE:FDX) by 5.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 200,237 shares of the shipping service provider’s stock after selling 10,830 shares during the period. Strs Ohio’s holdings in FedEx were worth $71,320,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox raised its position in FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. State Street Corp grew its position in shares of FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after purchasing an additional 382,848 shares during the period. Franklin Resources Inc. increased its stake 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 worth $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: The $1.4 billion sale of FedEx Supply Chain could help streamline operations, sharpen focus on core shipping services, and provide cash that may support margins or shareholder returns. FedEx strikes $1.4bn deal to sell logistics unit to CMA CGM
• Positive Sentiment: Goldman Sachs initiated coverage of newly spun-off FedEx Freight with a Buy rating, citing potential margin expansion and improved profitability, which could support broader investor sentiment toward the FedEx restructuring story. Goldman Sachs initiates FedEx Freight with Buy, sees 23% margin expansion upside
• Neutral Sentiment: News that CMA CGM hired a former FedEx logistics executive adds context to the deal but is not likely to materially change the near-term thesis by itself. CMA CGM hires FedEx executive Moebel to lead Ceva Logistics
• Negative Sentiment: Seeking Alpha published a cautious view arguing the bullish case for FedEx depends on a margin recovery that is not yet visible, reinforcing concerns that cost cuts may not fully offset soft demand. FedEx: The Bull Case Relies On A Margin Recovery That Isn’t Visible Yet
• Negative Sentiment: Director Paul S. Walsh sold 5,042 shares, which can signal reduced insider confidence even though the sale was relatively small compared with his remaining holdings. SEC insider transaction filing

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the executive vice president owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is currently owned by company insiders.

FedEx Trading Down 0.2%

Shares of FedEx stock opened at $313.21 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock’s 50 day simple moving average is $357.86 and its 200-day simple moving average is $347.84. The stock has a market cap of $74.73 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter last year, the firm earned $6.07 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently announced 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 of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Analysts Set New Price Targets

Several research firms recently issued reports on FDX. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. TD Cowen lowered their price target on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. BNP Paribas Exane reduced their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Barclays decreased their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Finally, Rothschild & Co Redburn lowered their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $349.60.

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.