WCM Investment Management LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 51,533 shares of the shipping service provider's stock, valued at approximately $17,612,000.
Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Ferguson Wellman Capital Management Inc. grew its holdings in FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock worth $296,000 after acquiring an additional 26 shares during the last quarter. OneAscent Financial Services LLC raised its stake in shares of FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock valued at $491,000 after acquiring an additional 29 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after purchasing an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock worth $101,000 after purchasing an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in shares of FedEx by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.
Insider Activity at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.
FedEx Price Performance
Shares of NYSE FDX opened at $313.17 on Monday. The firm has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. The firm's 50-day moving average price is $342.12 and its 200-day moving average price is $349.62. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36.
FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS 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 the consensus estimate of $24.04 billion. During the same period last year, the business posted $6.07 EPS. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio (DPR) is 26.36%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Citizens Jmp assumed coverage on FedEx in a research report on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 price target on the stock. HSBC lowered their price objective on FedEx from $360.00 to $289.89 and set a "hold" rating for the company in a research report on Monday, June 1st. Raymond James Financial cut their price objective on FedEx from $415.00 to $330.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 24th. Barclays reduced their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Finally, Argus raised their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and a consensus target price of $350.54.
Check Out Our Latest Stock Report on FDX
About FedEx
(
Free Report)
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.
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