Bank of Nova Scotia Takes $21.92 Million Position in FedEx Corporation $FDX

Key Points

• Bank of Nova Scotia acquired 69,999 FedEx shares worth approximately $21.92 million in the second quarter. Institutional investors collectively own 84.47% of FedEx’s outstanding stock.
• Analysts maintain a generally positive outlook, with FedEx receiving a “Moderate Buy” consensus rating and an average price target of $350.54, despite TD Cowen lowering its target to $354.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue and declared an unchanged quarterly dividend of $1.22 per share, equivalent to a 1.5% annualized yield.

Bank of Nova Scotia 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 Securities & Exchange Commission. The institutional investor acquired 69,999 shares of the shipping service provider's stock, valued at approximately $21,919,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. BlackRock Inc. purchased a new position in shares of FedEx during the second quarter valued at about $6,508,103,000. Norges Bank bought a new stake in shares of FedEx in the fourth quarter worth about $859,085,000. Boston Partners purchased a new stake in shares of FedEx in the third quarter worth about $468,195,000. AQR Capital Management LLC lifted its position in shares of FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after buying an additional 1,718,278 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in FedEx during the second quarter valued at approximately $466,943,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on FDX shares. TD Cowen cut their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Stephens raised FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of FedEx in a research report on Friday, June 26th. BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Raymond James Financial restated an "outperform" rating on shares of FedEx in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $350.54.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx’s board declared a quarterly cash dividend of $1.22 per share, payable October 1 to shareholders of record on September 14. The unchanged dividend reinforces the company’s commitment to returning capital and may support income-oriented investor interest. FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: FedEx and UPS reportedly secured modifications to government delivery contracts, potentially providing additional volume and revenue visibility for FedEx’s network. UPS and FedEx land government delivery contract modifications
• Neutral Sentiment: Wall Street analysts remain cautiously optimistic about FedEx, citing its strong performance over the past year but maintaining a measured outlook on future prospects. This suggests support for the stock but limited expectations for near-term upside. Are Wall Street Analysts Bullish on FedEx Stock?
• Negative Sentiment: Reports that UPS, FedEx and DHL are returning billions in tariff-related charges to eligible U.S. customers could create reimbursement costs and administrative complexity, although the ultimate financial impact on FedEx remains unclear. UPS, FedEx and DHL are giving back billions in Trump tariffs
• Negative Sentiment: FedEx reportedly paid its top executives $81 million in fiscal 2026, a 131% increase from the prior year. The sharp rise may draw investor scrutiny regarding compensation discipline and corporate governance. Memphis-based FedEx paid top executives $81M
• Negative Sentiment: Amazon’s planned expansion of drone delivery to nearly 500 U.S. cities increases competitive pressure in last-mile shipping and could challenge FedEx’s parcel volumes over time. Amazon to Bring Drone Delivery to 500 Cities

FedEx Price Performance

FDX stock opened at $325.03 on Monday. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $319.03 and a 200 day moving average price of $351.65. The stock has a market cap of $76.92 billion, a PE ratio of 17.56, a P/E/G ratio of 1.67 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio is currently 26.36%.

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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