8,547 Shares in FedEx Corporation $FDX Acquired by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd opened a new position in FedEx, buying 8,547 shares valued at about $2.92 million in the first quarter.
• FedEx shares were down 2.2% on Tuesday, with the stock trading at $306.08 amid a market cap of $73.03 billion.
• The company reported better-than-expected quarterly results, earning $6.31 per share on revenue of $25.01 billion, and analysts currently have a Moderate Buy consensus with a $350.54 average price target.

Mediolanum International Funds Ltd purchased a new position in FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,547 shares of the shipping service provider's stock, valued at approximately $2,921,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in FedEx by 12.8% during the fourth 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 lifted its stake in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of FedEx during the second quarter valued at approximately $586,000. Quantbot Technologies LP bought a new position in shares of FedEx during the 2nd quarter worth $186,000. Finally, Jump Financial LLC bought a new stake in FedEx during the 2nd quarter valued at $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 2.2%

NYSE FDX opened at $306.08 on Tuesday. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The firm has a 50 day simple moving average of $340.67 and a 200-day simple moving average of $349.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market cap of $73.03 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share 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 analysts' expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm's revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx's payout ratio is 26.36%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. Evercore set a $165.00 target price on FedEx in a research report on Friday, June 26th. Citigroup initiated coverage on FedEx in a research note on Wednesday, July 15th. They issued an "outperform" rating on the stock. Stephens raised shares of FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. Jefferies Financial Group initiated coverage on FedEx in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a "buy" rating to a "hold" rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus price target of $350.54.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

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.

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