State of Michigan Retirement System Raises Stock Holdings in FedEx Corporation $FDX

State of Michigan Retirement System increased its position in FedEx Corporation (NYSE:FDX) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,167 shares of the shipping service provider’s stock after purchasing an additional 1,400 shares during the period. State of Michigan Retirement System’s holdings in FedEx were worth $15,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Abound Financial LLC bought a new stake in FedEx in the first quarter worth $38,000. WPG Advisers LLC bought a new stake in FedEx in the first quarter worth $43,000. Cary Street Partners Investment Advisory LLC boosted its holdings in FedEx by 60.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock worth $46,000 after acquiring an additional 71 shares in the last quarter. Motco boosted its holdings in FedEx by 61.8% in the first quarter. Motco now owns 267 shares of the shipping service provider’s stock worth $65,000 after acquiring an additional 102 shares in the last quarter. Finally, Rise Advisors LLC boosted its holdings in FedEx by 21.0% in the first quarter. Rise Advisors LLC now owns 340 shares of the shipping service provider’s stock worth $83,000 after acquiring an additional 59 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 2.1%

Shares of NYSE:FDX opened at $254.05 on Monday. The company has a market cap of $59.95 billion, a P/E ratio of 14.83, a PEG ratio of 1.42 and a beta of 1.31. 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 stock’s fifty day moving average price is $235.07 and its 200-day moving average price is $228.33.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.12. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter in the prior year, the company earned $3.60 earnings per share. FedEx’s revenue was up 3.1% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Sell-side analysts expect that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.3%. FedEx’s dividend payout ratio is currently 33.86%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $255.00 target price on shares of FedEx in a report on Thursday, September 18th. Sanford C. Bernstein boosted their target price on FedEx from $247.00 to $250.00 and gave the stock a “market perform” rating in a report on Monday, September 22nd. Stifel Nicolaus dropped their target price on FedEx from $308.00 to $296.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company upped their price target on FedEx from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FedEx in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.83.

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.