Everett Harris & Co. CA Takes Position in FedEx Corporation $FDX

Key Points

• Everett Harris & Co. CA acquired 4,139 FedEx shares in the second quarter, valued at approximately $1.30 million. Institutional investors and hedge funds collectively own 84.47% of FedEx’s outstanding stock.
• Analyst sentiment remains favorable but mixed: FedEx has a consensus “Moderate Buy” rating and an average price target of $350.54, while recent targets and ratings have been both raised and lowered.
• FedEx shares opened at $334.56 and were trading down 1.4%; the company reported quarterly revenue of $23.26 billion and EPS of $5.88. Automation and potential pricing benefits support the outlook, but layoffs, network closures and tariff refunds point to ongoing cost and demand pressures.

Everett Harris & Co. CA acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,139 shares of the shipping service provider's stock, valued at approximately $1,296,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Hollencrest Capital Management bought a new stake in shares of FedEx in the 1st quarter worth approximately $25,000. Bayban bought a new position in FedEx during the 1st quarter worth $26,000. Cedar Mountain Advisors LLC grew its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock worth $33,000 after buying an additional 41 shares during the last quarter. EFG International AG acquired a new stake in FedEx in the fourth quarter worth $27,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx in the fourth quarter worth $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FDX shares. Citizens Jmp began coverage on shares of FedEx in a report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target for the company. HSBC dropped their price objective 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. BMO Capital Markets reiterated a "market perform" rating on shares of FedEx in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their target price on shares of FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings cut shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.54.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping's Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company NASDAQ: FDXF attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

FedEx Trading Down 1.4%

NYSE:FDX opened at $334.56 on Friday. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The stock has a market cap of $79.15 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.75 and a beta of 1.30. The business has a fifty day moving average of $319.39 and a 200-day moving average of $351.07. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

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. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. Equities analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid 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 yield of 1.5%. FedEx's dividend payout ratio (DPR) is presently 26.36%.

FedEx 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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source