Aviance Capital Partners LLC Sells 6,426 Shares of FedEx Corporation $FDX

Key Points

• Aviance Capital Partners LLC reduced its FedEx stake by 67.2% in the first quarter, selling 6,426 shares and leaving it with 3,135 shares valued at about $1.12 million.
• FedEx reported better-than-expected quarterly results, with EPS of $6.31 versus $5.91 expected and revenue of $25.01 billion, up 12.5% from a year earlier.
• Despite solid results, analysts remain mixed: several firms cut price targets, and the stock’s average analyst rating is Moderate Buy with an average target price of $350.54.

Aviance Capital Partners LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 67.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,135 shares of the shipping service provider's stock after selling 6,426 shares during the quarter. Aviance Capital Partners LLC's holdings in FedEx were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bayban purchased a new position in shares of FedEx in the first quarter valued at $26,000. EFG International AG purchased a new stake in FedEx during the 4th quarter worth about $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx during the 3rd quarter worth about $28,000. Ulland Investment Advisors LLC bought a new position in FedEx in the 4th quarter worth about $29,000. Finally, Tucker Asset Management LLC bought a new position in FedEx in the 4th quarter worth about $29,000. Institutional investors own 84.47% of the company's stock.

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 owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $313.17 on Monday. The company's fifty day moving average price is $342.12 and its 200-day moving average price is $349.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm has a market capitalization of $74.72 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.61 and a beta of 1.29. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FDX shares. UBS Group decreased their price target on FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Citigroup started coverage on shares of FedEx in a research note on Wednesday. They set an "outperform" rating for the company. HSBC decreased their target price on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. Truist Financial lowered their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. Finally, Barclays cut their price target on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and an average target price of $350.54.

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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