FedEx Corporation $FDX Shares Acquired by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management boosted its FedEx stake by 18.4% in the first quarter, bringing its holdings to 34,191 shares valued at about $12.2 million.
• FedEx reported better-than-expected quarterly results, with EPS of $6.31 versus estimates of $5.91 and revenue of $25.01 billion, up 12.5% year over year.
• Despite the strong earnings, the stock has mixed signals from insiders and analysts: a director sold shares, and Wall Street’s consensus rating is “Moderate Buy” with an average price target of $350.54.

Meeder Asset Management Inc. raised its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,191 shares of the shipping service provider's stock after acquiring an additional 5,313 shares during the period. Meeder Asset Management Inc.'s holdings in FedEx were worth $12,178,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Bayban acquired a new stake in FedEx in the first quarter valued at $26,000. Cedar Mountain Advisors LLC raised its position in FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock worth $33,000 after acquiring an additional 41 shares during the last quarter. EFG International AG acquired a new position in shares of FedEx during the 4th quarter worth approximately $27,000. Ulland Investment Advisors LLC acquired a new position in shares of FedEx during the 4th quarter worth approximately $29,000. Finally, Tucker Asset Management LLC purchased a new stake in FedEx in the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 0.1%

Shares of NYSE FDX opened at $313.17 on Monday. The stock has a market capitalization of $74.72 billion, a PE ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average of $342.12 and a 200-day moving average of $349.62. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating the consensus estimate of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same quarter last year, the firm posted $6.07 earnings per share. FedEx's revenue for the quarter was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio is presently 26.36%.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FDX shares. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price target for the company. TD Cowen reduced their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Wolfe Research decreased their price objective on FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Raymond James Financial dropped their price objective on FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a research report on Wednesday, June 24th. Finally, Citizens Jmp began coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $375.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $350.54.

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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