Everett Harris & Co. CA Takes $1.30 Million Position in FedEx Corporation $FDX

Everett Harris & Co. CA bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,139 shares of the shipping service provider’s stock, valued at approximately $1,296,000.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in FedEx in the first quarter worth about $25,000. Bayban bought a new position in shares of FedEx during the 1st quarter valued at about $26,000. EFG International AG bought a new position in shares of FedEx during the 4th quarter valued at about $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $28,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $334.56 on Friday. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36. The company has a 50-day moving average of $319.39 and a two-hundred day moving average of $351.07. The stock has a market cap of $79.15 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.75 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. On average, equities research analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. Rothschild & Co Redburn dropped their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Finally, Raymond James Financial cut their price objective on FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Key FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

About FedEx

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.