Addenda Capital Inc. Reduces Stock Position in FedEx Corporation $FDX

Key Points

• Addenda Capital trimmed its stake in FedEx by 9.8%, selling 3,277 shares to hold 30,000 shares worth about $8.71 million at quarter-end.
• Institutional ownership is high at 84.47%, with large investors like Vanguard, Dodge & Cox, AQR and Boston Partners materially increasing or initiating positions in recent quarters.
• Corporate catalysts: FedEx unveiled a Freight spinoff with standalone targets (10–12% profit growth, 4–6% revenue growth, and >$1B free cash flow) and posted an earnings beat (EPS $5.25 vs. $4.12), prompting analyst price-target raises and a consensus "Moderate Buy."

Addenda Capital Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,000 shares of the shipping service provider's stock after selling 3,277 shares during the period. Addenda Capital Inc.'s holdings in FedEx were worth $8,709,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after acquiring an additional 2,741,723 shares during the last quarter. Boston Partners purchased a new position in FedEx in the 3rd quarter worth approximately $468,195,000. Dodge & Cox raised its holdings in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the last quarter. AQR Capital Management LLC raised its holdings in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in FedEx in the 3rd quarter worth approximately $171,960,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx Freight laid out a clear spinoff blueprint at its inaugural investor day, targeting 10%–12% profit growth, 4%–6% revenue growth, and more than $1 billion of free cash flow as a standalone company ahead of the planned June 1 separation. Management emphasized margin expansion levers that could re-rate both the freight unit and the parent. Read More.
• Positive Sentiment: FedEx Freight provided concrete standalone financial goals (including a 12% operating margin target for 2026) and signaled a new NYSE ticker (FDXF), which reduces execution uncertainty around the split and supports investor confidence in the operational plan. Read More.
• Neutral Sentiment: Wolfe Research trimmed its price target slightly (from $427 to $423) but kept an “outperform” rating, indicating analyst conviction remains despite the small PT change. Read More.
• Neutral Sentiment: Argus Research and other analysts continue to express positive views on FDX’s long-term outlook, supporting the stock’s momentum but not removing near‑term execution or macro risks. Read More.
• Negative Sentiment: FedEx filed suit against a law firm alleging staged crashes and bogus injury claims tied to FedEx drivers — a legal and reputational issue that could lead to additional litigation costs and distractions for management. Read More.
• Negative Sentiment: A major Amazon–USPS delivery pact to handle over 1 billion packages annually raises competitive concerns for parcel volumes and pricing, particularly in e‑commerce flows that have historically benefited private carriers like FedEx. Investors may discount expectations for parcel growth if Amazon shifts more volume to the Postal Service. Read More.
• Negative Sentiment: Bearish commentary and “avoid” pieces highlight near‑term risks (fuel cost volatility, trade-policy shifts, and execution risk on the split), which could cap multiple expansion until Freight is separated and targets are proven. Read More.

FedEx Trading Up 4.5%

Shares of FDX stock opened at $373.07 on Thursday. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $392.86. The firm has a fifty day moving average price of $363.59 and a 200-day moving average price of $303.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $89.02 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 1.59 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the previous year, the firm posted $4.51 EPS. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's payout ratio is presently 30.87%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. Barclays boosted their price objective on shares of FedEx from $360.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Evercore lifted their target price on shares of FedEx from $364.00 to $380.00 in a research report on Tuesday, February 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, December 19th. BMO Capital Markets lifted their target price on shares of FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a research report on Friday, March 20th. Finally, Raymond James Financial lifted their target price on shares of FedEx from $305.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $396.88.

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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