Baird Financial Group Inc. Has $17.16 Million Stock Holdings in FedEx Corporation $FDX

Key Points

• Baird Financial Group Inc. reduced its holdings in FedEx Corporation by 8.4% during the first quarter, now owning 70,370 shares valued at approximately $17.16 million.
• Multiple hedge funds have increased their positions in FedEx, with the Canada Pension Plan Investment Board raising its stake by an impressive 302.6% in the same quarter.
• Analysts have set a consensus target price of $282.96 for FedEx shares, with ratings varying from "Strong Buy" to "Sell" across the board.

Baird Financial Group Inc. cut its position in FedEx Corporation (NYSE:FDX - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,370 shares of the shipping service provider's stock after selling 6,485 shares during the period. Baird Financial Group Inc.'s holdings in FedEx were worth $17,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vident Advisory LLC raised its holdings in FedEx by 31.9% in the first quarter. Vident Advisory LLC now owns 13,762 shares of the shipping service provider's stock worth $3,355,000 after purchasing an additional 3,332 shares during the period. Evergreen Capital Management LLC raised its holdings in FedEx by 1.8% in the first quarter. Evergreen Capital Management LLC now owns 39,119 shares of the shipping service provider's stock worth $9,589,000 after purchasing an additional 681 shares during the period. Canada Pension Plan Investment Board raised its holdings in FedEx by 302.6% in the first quarter. Canada Pension Plan Investment Board now owns 352,296 shares of the shipping service provider's stock worth $85,883,000 after purchasing an additional 264,792 shares during the period. Parnassus Investments LLC raised its holdings in FedEx by 22.6% in the first quarter. Parnassus Investments LLC now owns 369,368 shares of the shipping service provider's stock worth $90,045,000 after purchasing an additional 68,158 shares during the period. Finally, WPG Advisers LLC acquired a new stake in FedEx in the first quarter worth $43,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FDX shares. Stephens reissued an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Raymond James Financial reissued an "outperform" rating and set a $260.00 price objective (down previously from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Barclays reissued an "overweight" rating and set a $320.00 price objective (down previously from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $282.96.

FedEx Stock Down 0.1%

FedEx stock opened at $230.96 on Tuesday. The company has a market cap of $54.49 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a fifty day simple moving average of $230.72 and a 200 day simple moving average of $229.39. 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 released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the firm earned $5.41 earnings per share. FedEx has set its Q1 2026 guidance at 3.400-4.000 EPS. Research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be paid a $1.45 dividend. 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 (DPR) is currently 34.36%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock worth $2,228,816 over the last quarter. 0.53% of the stock is currently owned by insiders.

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.

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