Corebridge Financial Inc. Decreases Stake in FedEx Corporation $FDX

Key Points

• Corebridge Financial Inc. has reduced its holdings in FedEx Corporation by 4.3%, now owning 49,421 shares worth approximately $12 million.
• Several analysts have adjusted their ratings on FedEx, with one downgrading the stock to "hold" and others modifying price targets amid varying market outlooks.
• FedEx has announced a quarterly dividend of $1.45 per share, representing an annualized dividend yield of 2.5% for stockholders of record.

Corebridge Financial Inc. lessened its position in FedEx Corporation (NYSE:FDX - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,421 shares of the shipping service provider's stock after selling 2,241 shares during the quarter. Corebridge Financial Inc.'s holdings in FedEx were worth $12,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Ally Financial Inc. raised its stake in FedEx by 20.0% during the first quarter. Ally Financial Inc. now owns 12,000 shares of the shipping service provider's stock valued at $2,925,000 after buying an additional 2,000 shares during the last quarter. Comerica Bank raised its stake in FedEx by 1.8% during the first quarter. Comerica Bank now owns 45,344 shares of the shipping service provider's stock valued at $11,054,000 after buying an additional 802 shares during the last quarter. Synovus Financial Corp raised its stake in FedEx by 9.7% during the first quarter. Synovus Financial Corp now owns 9,711 shares of the shipping service provider's stock valued at $2,367,000 after buying an additional 856 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in FedEx during the first quarter valued at $6,267,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in FedEx by 7.1% during 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 during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. Truist Financial reiterated a "buy" rating and set a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. TD Cowen reduced their target price on FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Citigroup reduced their target price on FedEx from $278.00 to $275.00 and set a "buy" rating for the company in a report on Monday, August 18th. Bank of America reduced their target price on FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Finally, Dbs Bank raised FedEx from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average price target of $282.96.

FedEx Stock Performance

Shares of FDX traded down $0.31 during trading hours on Friday, hitting $230.96. The stock had a trading volume of 1,485,470 shares, compared to its average volume of 1,702,863. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The firm has a market capitalization of $54.49 billion, a PE ratio of 13.68, a PEG ratio of 1.20 and a beta of 1.30. The stock has a fifty day moving average price of $230.69 and a 200 day moving average price of $229.88.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%.During the same quarter in the previous year, the company posted $5.41 earnings per share. FedEx has set its Q1 2026 guidance at 3.400-4.000 EPS. Analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

FedEx Profile

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.