Legacy Trust Decreases Stake in FedEx Corporation $FDX

Legacy Trust reduced its position in FedEx Corporation (NYSE:FDX) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,285 shares of the shipping service provider’s stock after selling 246 shares during the period. Legacy Trust’s holdings in FedEx were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in FedEx during the first quarter valued at $314,650,000. ACR Alpine Capital Research LLC lifted its position in FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider’s stock valued at $386,399,000 after purchasing an additional 732,266 shares during the last quarter. Vanguard Group Inc. lifted its position in FedEx by 1.4% during the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider’s stock valued at $4,994,848,000 after purchasing an additional 289,655 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in FedEx by 302.6% during the first quarter. Canada Pension Plan Investment Board now owns 352,296 shares of the shipping service provider’s stock valued at $85,883,000 after purchasing an additional 264,792 shares during the last quarter. Finally, Strs Ohio bought a new position in FedEx during the first quarter valued at $64,242,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FedEx stock opened at $244.14 on Friday. The stock has a market cap of $57.61 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The firm has a 50-day moving average of $229.77 and a two-hundred day moving average of $225.85.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.71 by $0.12. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 8th were paid a $1.45 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.4%. FedEx’s dividend payout ratio is 33.86%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of FedEx from $290.00 to $276.00 and set a “buy” rating for the company in a research report on Friday, September 12th. HSBC increased their price objective on shares of FedEx from $230.00 to $235.00 in a research report on Friday, September 19th. BMO Capital Markets lowered their target price on shares of FedEx from $260.00 to $255.00 and set a “market perform” rating for the company in a report on Friday, September 19th. Weiss Ratings restated a “hold (c)” rating on shares of FedEx in a report on Saturday, September 27th. Finally, Evercore ISI lowered their target price on shares of FedEx from $243.00 to $239.00 in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $271.67.

Insider Buying and Selling

In related news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the transaction, the director owned 7,720 shares of the company’s stock, valued at $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock valued at $2,228,816 over the last quarter. 0.53% of the stock is owned by corporate insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.