Pallas Capital Advisors LLC Acquires Shares of 5,269 FedEx Corporation $FDX

Key Points

• Pallas Capital Advisors LLC has acquired 5,269 shares of FedEx Corporation valued at approximately $1.2 million, marking a new investment position in the second quarter.
• FedEx reported $3.83 earnings per share for the last quarter, surpassing analysts' expectations of $3.71, while revenue climbed to $22.20 billion, exceeding projections.
• The company announced a quarterly dividend of $1.45, reflecting an annualized dividend of $5.80 and a yield of 2.6%, payable on October 1st to shareholders recorded by September 8th.

Pallas Capital Advisors LLC acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,269 shares of the shipping service provider's stock, valued at approximately $1,198,000.

Other hedge funds also recently modified their holdings of the company. Abound Financial LLC purchased a new stake in FedEx in the 1st quarter worth about $38,000. Ameriflex Group Inc. acquired a new stake in shares of FedEx during the 4th quarter valued at $43,000. WPG Advisers LLC purchased a new position in shares of FedEx during the 1st quarter valued at $43,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of FedEx by 60.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider's stock worth $46,000 after acquiring an additional 71 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in FedEx during the fourth quarter valued at $70,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock valued at $2,228,816 in the last three months. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the topic of several research reports. Jefferies Financial Group upped their target price on FedEx from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James Financial restated an "outperform" rating and issued a $255.00 price objective on shares of FedEx in a report on Thursday. TD Cowen lifted their target price on shares of FedEx from $269.00 to $271.00 and gave the company a "buy" rating in a research note on Friday. Bank of America boosted their target price on shares of FedEx from $240.00 to $244.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price target on shares of FedEx from $285.00 to $284.00 and set an "overweight" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $275.85.

FedEx Price Performance

FDX stock traded up $5.60 during trading on Friday, hitting $232.10. The company had a trading volume of 8,378,809 shares, compared to its average volume of 1,900,524. The company has a market cap of $54.76 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.28 and a beta of 1.20. The company has a fifty day moving average price of $228.84 and a two-hundred day moving average price of $226.62. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.71 by $0.12. The business had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.43%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $3.60 EPS. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Equities research analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. FedEx's dividend payout ratio is 34.36%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.