Provenance Wealth Advisors LLC Buys 4,157 Shares of FedEx Corporation $FDX

Provenance Wealth Advisors LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,157 shares of the shipping service provider’s stock, valued at approximately $1,185,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in FedEx in the 2nd quarter worth $6,508,103,000. Primecap Management Co. CA purchased a new position in FedEx in the 2nd quarter valued at about $2,554,138,000. Dimensional Fund Advisors LP grew its stake in shares of FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after acquiring an additional 52,963 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of FedEx by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after acquiring an additional 125,950 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of FedEx during the second quarter worth about $579,171,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. Truist Financial cut their price target on FedEx from $365.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Bank of America lowered their price objective on FedEx from $378.00 to $359.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Raymond James Financial set a $162.00 price objective on FedEx in a research note on Tuesday. Evercore lifted their price objective on FedEx from $350.00 to $351.00 in a report on Monday, September 28th. Finally, UBS Group reaffirmed a “hold” rating on shares of FedEx in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $359.16.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Jim Cramer praised FedEx’s rebound, calling its move “very nice,” adding a favorable public endorsement. Jim Cramer Recommends FedEx
• Positive Sentiment: Citigroup reportedly sees potential for significant appreciation in FDX, reinforcing the positive analyst outlook. Citigroup Forecasts Strong Price Appreciation for FedEx
• Positive Sentiment: FedEx says dedicated logistics teams have helped win contracts serving aerospace and automotive customers, including shipments of aircraft engines and auto parts. Those specialized, potentially higher-value services could support growth beyond traditional parcel delivery. FedEx uses dedicated logistics teams to win aerospace, automotive business
• Positive Sentiment: A report says FedEx’s customer base is shifting and its latest quarter indicates the strategy is working. Separately, its latest results beat estimates: earnings were $3.74 per share versus a $3.34 consensus, while revenue reached $22.93 billion. FedEx CEO is seeing a shift in its customer base
• Positive Sentiment: FedEx plans to extend its Network 2.0 integration to Los Angeles and other markets after completing it in locations including Dallas and San Francisco. The restructuring could improve network efficiency, though the rollout continues into 2027. FedEx Network 2.0 headed to Los Angeles, other markets post-holidays
• Neutral Sentiment: FedEx gained but underperformed some competitors, suggesting its move was not as strong as peers’. FedEx Corp. stock underperforms Wednesday when compared to competitors despite daily gains
• Negative Sentiment: EVP Gina Adams sold 3,014 shares, reducing her direct holdings by about 24%. Insider sales can weigh on sentiment, although the transaction alone does not establish a negative outlook. FedEx insider Gina Adams sells 3,014 shares

FedEx Price Performance

FDX opened at $329.47 on Thursday. The company has a 50-day moving average of $303.77 and a 200-day moving average of $337.29. The company has a market capitalization of $77.16 billion, a P/E ratio of 20.26, a PEG ratio of 1.28 and a beta of 1.27. FedEx Corporation has a 1-year low of $200.20 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33.

FedEx (NYSE:FDX) last issued its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The business had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same quarter in the prior year, the business posted $3.83 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts expect that FedEx Corporation will post 18.29 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s payout ratio is currently 30.01%.

Insider Activity at FedEx

In other FedEx news, EVP Gina Adams sold 3,014 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $317.06, for a total transaction of $955,618.84. Following the sale, the executive vice president owned 9,656 shares in the company, valued at $3,061,531.36. This represents a 23.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tracy Brightman sold 26,611 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $316.68, for a total value of $8,427,171.48. Following the transaction, the executive vice president directly owned 12,245 shares in the company, valued at approximately $3,877,746.60. This represents a 68.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.65% of the company’s stock.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.