FedEx Corporation $FDX Shares Bought by Swiss National Bank

Key Points

• Swiss National Bank increased its FedEx stake by 6.7% in the first quarter, adding 41,400 shares to reach 655,600 shares valued at about $233.5 million.
• Analyst sentiment remains mostly positive, with FedEx carrying a consensus rating of “Moderate Buy” and an average price target of $350.54, even after some firms trimmed targets.
• FedEx beat quarterly expectations by reporting EPS of $6.31 versus $5.91 expected and revenue of $25.01 billion, while also paying a quarterly dividend of $1.22 per share.

Swiss National Bank raised its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 655,600 shares of the shipping service provider's stock after purchasing an additional 41,400 shares during the period. Swiss National Bank owned 0.27% of FedEx worth $233,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Ferguson Wellman Capital Management Inc. increased its position in FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock valued at $296,000 after buying an additional 26 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock worth $491,000 after acquiring an additional 29 shares in the last quarter. Whipplewood Advisors LLC grew its stake in shares of FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after acquiring an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of FedEx by 11.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock worth $101,000 after acquiring an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its holdings in shares of FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, June 17th. TD Cowen dropped their target price on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Stephens upgraded shares of FedEx to a "strong-buy" rating in a research note on Wednesday, July 8th. Argus raised their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Finally, Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE FDX opened at $313.17 on Monday. The business's 50 day moving average price is $342.12 and its 200 day moving average price is $349.62. The firm has a market cap of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same period last year, the firm posted $6.07 EPS. 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, sell-side analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio (DPR) is 26.36%.

About FedEx

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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