FedEx Corporation $FDX Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake in FedEx by 5.2% during the 2nd quarter, leaving them with 261,641 shares valued at approximately $59.6 million.
• FedEx reported an EPS of $3.83 for the last quarter, exceeding analysts' expectations, and achieved a revenue of $22.20 billion, up 3.1% year-over-year.
• The firm announced a quarterly dividend of $1.45 per share, yielding 2.4%, with a payout ratio of 33.86% as of the recent dividend payment on October 1st.

DAVENPORT & Co LLC reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,641 shares of the shipping service provider's stock after selling 14,428 shares during the period. DAVENPORT & Co LLC owned 0.11% of FedEx worth $59,585,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Simplicity Wealth LLC acquired a new stake in FedEx during the 2nd quarter worth $471,000. Hilltop National Bank purchased a new position in shares of FedEx during the second quarter worth about $373,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of FedEx by 37.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,444 shares of the shipping service provider's stock worth $7,148,000 after purchasing an additional 8,650 shares in the last quarter. CenterStar Asset Management LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at about $238,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of FedEx in the 2nd quarter valued at about $576,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on FDX shares. BMO Capital Markets cut their price target on FedEx from $260.00 to $255.00 and set a "market perform" rating on the stock in a research report on Friday, September 19th. Evercore ISI reduced their price target on shares of FedEx from $243.00 to $239.00 in a research report on Friday, September 19th. Sanford C. Bernstein raised their price objective on shares of FedEx from $247.00 to $250.00 and gave the stock a "market perform" rating in a research report on Monday, September 22nd. Dbs Bank upgraded shares of FedEx from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 21st. Finally, Barclays reiterated an "overweight" rating and set a $320.00 target price (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $271.67.

FedEx Stock Up 0.7%

Shares of NYSE:FDX opened at $244.14 on Monday. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The firm's 50-day simple moving average is $229.77 and its 200-day simple moving average is $225.71. The company has a market cap of $57.61 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.36 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, beating analysts' consensus estimates of $3.71 by $0.12. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter last year, the firm earned $3.60 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, equities research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 8th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, September 8th. FedEx's dividend payout ratio is currently 33.86%.

Insiders Place Their Bets

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the company's 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. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

About FedEx

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.