FedEx Corporation $FDX Holdings Lowered by Sentry LLC

Key Points

• Sentry LLC cut its FedEx stake by 42.4% in the third quarter, selling 149,868 shares; despite the reduction, FedEx remained its largest holding at 20.6% of its portfolio.
• FedEx reported quarterly earnings of $3.74 per share, beating the $3.34 consensus estimate, while revenue of $22.93 billion rose 12.3% year over year.
• Analyst sentiment was broadly positive: FedEx had a “Moderate Buy” consensus rating and an average price target of $359.16.

Sentry LLC decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 42.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,607 shares of the shipping service provider's stock after selling 149,868 shares during the period. FedEx comprises 20.6% of Sentry LLC's portfolio, making the stock its largest holding. Sentry LLC owned 0.09% of FedEx worth $58,046,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FDX. BlackRock Inc. acquired a new stake in FedEx in the second quarter valued at about $6,508,103,000. Primecap Management Co. CA acquired a new position in FedEx during the 2nd quarter worth approximately $2,554,138,000. Dimensional Fund Advisors LP raised its stake in shares of FedEx by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock worth $936,688,000 after buying an additional 52,963 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of FedEx by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider's stock worth $760,328,000 after buying an additional 125,950 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $579,171,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $329.47 on Thursday. The stock has a fifty day moving average price of $303.77 and a 200 day moving average price of $337.29. The stock has a market cap of $77.16 billion, a PE ratio of 20.26, a P/E/G ratio of 1.28 and a beta of 1.27. FedEx Corporation has a 1 year low of $200.20 and a 1 year high of $345.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same quarter in the prior year, the company earned $3.83 earnings per share. FedEx's revenue was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that FedEx Corporation will post 18.29 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, September 14th. FedEx's dividend payout ratio is presently 30.01%.

Insider Activity

In other FedEx news, EVP Gina Adams sold 3,014 shares of FedEx stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $317.06, for a total transaction of $955,618.84. Following the completion of the transaction, the executive vice president owned 9,656 shares in the company, valued at approximately $3,061,531.36. The trade was a 23.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tracy Brightman sold 26,611 shares of the company's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the sale, the executive vice president directly owned 12,245 shares in the company, valued at $3,877,746.60. This trade represents a 68.49% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.65% of the company's stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Jim Cramer praised FedEx’s rebound, calling its move “very nice,” adding a favorable public endorsement. Jim Cramer Recommends FedEx
• Positive Sentiment: Citigroup reportedly sees potential for significant appreciation in FDX, reinforcing the positive analyst outlook. Citigroup Forecasts Strong Price Appreciation for FedEx
• Positive Sentiment: FedEx says dedicated logistics teams have helped win contracts serving aerospace and automotive customers, including shipments of aircraft engines and auto parts. Those specialized, potentially higher-value services could support growth beyond traditional parcel delivery. FedEx uses dedicated logistics teams to win aerospace, automotive business
• Positive Sentiment: A report says FedEx’s customer base is shifting and its latest quarter indicates the strategy is working. Separately, its latest results beat estimates: earnings were $3.74 per share versus a $3.34 consensus, while revenue reached $22.93 billion. FedEx CEO is seeing a shift in its customer base
• Positive Sentiment: FedEx plans to extend its Network 2.0 integration to Los Angeles and other markets after completing it in locations including Dallas and San Francisco. The restructuring could improve network efficiency, though the rollout continues into 2027. FedEx Network 2.0 headed to Los Angeles, other markets post-holidays
• Neutral Sentiment: FedEx gained but underperformed some competitors, suggesting its move was not as strong as peers’. FedEx Corp. stock underperforms Wednesday when compared to competitors despite daily gains
• Negative Sentiment: EVP Gina Adams sold 3,014 shares, reducing her direct holdings by about 24%. Insider sales can weigh on sentiment, although the transaction alone does not establish a negative outlook. FedEx insider Gina Adams sells 3,014 shares

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FDX. Wall Street Zen upgraded FedEx to a "hold" rating in a research note on Saturday, August 8th. Truist Financial reduced their target price on FedEx from $365.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. Citigroup boosted their target price on shares of FedEx from $373.00 to $374.00 and gave the stock a "buy" rating in a research report on Monday. Evercore upped their price target on shares of FedEx from $350.00 to $351.00 in a research note on Monday, September 28th. Finally, Stephens upgraded shares of FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $359.16.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company's services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.

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