Pictet Asset Management Holding SA Has $34.01 Million Stake in FedEx Corporation $FDX

Pictet Asset Management Holding SA grew its stake in shares of FedEx Corporation (NYSE:FDX) by 5.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 95,477 shares of the shipping service provider’s stock after purchasing an additional 5,345 shares during the period. Pictet Asset Management Holding SA’s holdings in FedEx were worth $34,007,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Brighton Jones LLC lifted its stake in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of FedEx during the second quarter valued at about $586,000. Quantbot Technologies LP purchased a new position in FedEx during the second quarter worth about $186,000. Finally, Jump Financial LLC bought a new stake in FedEx in the 2nd quarter worth about $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last three months. 0.53% of the stock is owned by company insiders.

FedEx Stock Performance

NYSE:FDX opened at $313.44 on Wednesday. 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 business has a fifty day simple moving average of $361.08 and a two-hundred day simple moving average of $347.43. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The company has a market capitalization of $74.79 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.41 and a beta of 1.28.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $0.40. The firm had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, analysts expect that FedEx Corporation will post 20.89 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. BNP Paribas Exane decreased their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Argus lifted their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Seaport Research Partners initiated coverage on FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group began coverage on FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target 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.