FedEx Corporation $FDX Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its stake in FedEx Corporation by 42.3%, owning 36,363 shares worth $8,266,000 after selling 26,605 shares during the second quarter.
• FedEx's recently reported quarterly earnings of $3.83 per share exceeded the consensus estimate of $3.71, with revenue rising 3.1% year-over-year to $22.20 billion.
• The company announced a quarterly dividend of $1.45 per share, representing an annualized yield of 2.5%, payable on October 1st to shareholders of record on September 8th.

Fifth Third Bancorp lessened its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 42.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,363 shares of the shipping service provider's stock after selling 26,605 shares during the quarter. Fifth Third Bancorp's holdings in FedEx were worth $8,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after purchasing an additional 63 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the second quarter worth about $586,000. Sage Capital Advisors llc lifted its stake in shares of FedEx by 136.5% during the second quarter. Sage Capital Advisors llc now owns 34,697 shares of the shipping service provider's stock worth $7,887,000 after purchasing an additional 20,024 shares in the last quarter. Value Partners Investments Inc. lifted its stake in shares of FedEx by 26.4% during the second quarter. Value Partners Investments Inc. now owns 181,454 shares of the shipping service provider's stock worth $41,247,000 after purchasing an additional 37,950 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of FedEx during the first quarter worth about $147,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Up 1.1%

Shares of FedEx stock opened at $236.36 on Friday. 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 has a market cap of $55.77 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.30 and a beta of 1.20. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The business has a 50-day moving average price of $229.08 and a 200 day moving average price of $226.16.

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

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's payout ratio is presently 33.86%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock worth $2,228,816 over the last ninety days. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FDX shares. BMO Capital Markets reduced their price objective on FedEx from $260.00 to $255.00 and set a "market perform" rating on the stock in a research note on Friday, September 19th. Susquehanna lifted their target price on FedEx from $285.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, September 19th. TD Cowen lifted their target price on FedEx from $269.00 to $271.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Truist Financial reaffirmed a "buy" rating and set a $275.00 target price on shares of FedEx in a research report on Wednesday, June 25th. Finally, Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $271.67.

FedEx Profile

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.

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