QRG Capital Management Inc. Has $9.59 Million Holdings in FedEx Corporation $FDX

QRG Capital Management Inc. grew its holdings in FedEx Corporation (NYSE:FDX) by 67.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,934 shares of the shipping service provider’s stock after purchasing an additional 10,866 shares during the quarter. QRG Capital Management Inc.’s holdings in FedEx were worth $9,593,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bayban bought a new position in FedEx in the first quarter valued at approximately $26,000. EFG International AG bought a new stake in shares of FedEx during the 4th quarter valued at $27,000. Wealth Watch Advisors INC bought a new stake in shares of FedEx during the 3rd quarter valued at $28,000. Ameriflex Group Inc. lifted its stake in shares of FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,146 shares of company stock worth $19,235,438 over the last three months. Company insiders own 0.53% of the company’s stock.

FedEx Price Performance

FDX opened at $313.21 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a fifty day simple moving average of $356.40 and a 200 day simple moving average of $347.60. The stock has a market cap of $74.73 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, topping the consensus estimate of $5.91 by $0.40. The business had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FDX shares. Wolfe Research decreased their price objective on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. UBS Group reduced their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 target price on FedEx in a research report on Wednesday, June 24th. Finally, Seaport Research Partners initiated coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.