Strs Ohio Cuts Stake in FedEx Corporation $FDX

Strs Ohio cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,237 shares of the shipping service provider’s stock after selling 10,830 shares during the period. Strs Ohio owned 0.08% of FedEx worth $71,320,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after purchasing an additional 269,567 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of FedEx in the second quarter worth $586,000. CWM LLC raised its holdings in shares of FedEx by 32.2% in the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after buying an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan lifted its stake in shares of FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after buying an additional 3,138 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after buying an additional 6,864 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FDX shares. TD Cowen cut their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. Zacks Research lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Morgan Stanley raised their price objective on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, March 20th. Finally, Bank of America increased their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.60.

Insider Transactions at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 53,146 shares of company stock worth $19,235,438. Insiders own 0.53% of the company’s stock.

FedEx Stock Down 0.2%

Shares of FDX opened at $313.21 on Friday. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.36 and a beta of 1.29. The stock’s 50-day moving average price is $357.86 and its 200-day moving average price is $347.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share 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 company had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same period last year, the business earned $6.07 earnings per share. FedEx’s quarterly revenue 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is 26.36%.

Key Stories Impacting FedEx

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

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.