Busey Bank Has $4.29 Million Stock Position in FedEx Corporation $FDX

Key Points

• Busey Bank reduced its stake in FedEx Corporation by 7.7%, holding 18,875 shares valued at approximately $4.29 million as of its latest SEC filing.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have increased their positions in FedEx, demonstrating ongoing interest in the company.
• FedEx announced a quarterly dividend of $1.45 per share, giving an annualized dividend yield of 2.5%, with the payment scheduled for October 1st.

Busey Bank lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,875 shares of the shipping service provider's stock after selling 1,580 shares during the quarter. Busey Bank's holdings in FedEx were worth $4,290,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in FedEx by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock worth $4,994,848,000 after buying an additional 289,655 shares during the period. Invesco Ltd. boosted its stake in FedEx by 1.4% in the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock valued at $795,940,000 after buying an additional 43,989 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in FedEx by 7.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,030,687 shares of the shipping service provider's stock valued at $495,041,000 after buying an additional 135,290 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in FedEx by 85.9% in the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock valued at $386,399,000 after buying an additional 732,266 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of FedEx by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,506,226 shares of the shipping service provider's stock valued at $367,188,000 after purchasing an additional 5,490 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Activity

In other news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 over the last ninety days. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

FDX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on FedEx from $285.00 to $284.00 and set an "overweight" rating on the stock in a research note on Friday. Wells Fargo & Company boosted their price target on FedEx from $235.00 to $250.00 and gave the company an "equal weight" rating in a research note on Friday. Dbs Bank upgraded FedEx from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 21st. Stifel Nicolaus reduced their price objective on FedEx from $308.00 to $296.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $243.00 price target (down previously from $249.00) on shares of FedEx in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.85.

FedEx Stock Up 2.5%

FDX stock opened at $232.10 on Friday. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The business has a fifty day moving average price of $228.84 and a 200-day moving average price of $226.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The stock has a market capitalization of $54.76 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.28 and a beta of 1.20.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, topping the consensus estimate of $3.71 by $0.12. FedEx had a return on equity of 16.43% and a net margin of 4.65%.The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. FedEx's revenue was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Equities analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's payout ratio is presently 34.36%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.