FedEx Corporation $FDX Shares Sold by Meridian Investment Counsel Inc.

Key Points

• Meridian Investment Counsel Inc. has reduced its stake in FedEx Corporation by 14.5%, selling 2,670 shares during Q2, which now comprises just 1.0% of its portfolio.
• FedEx reported earnings of $3.83 per share for the most recent quarter, exceeding analyst estimates of $3.71, with revenue of $22.20 billion also surpassing expectations.
• The company's quarterly dividend of $1.45 per share is set to be paid on October 1st, reflecting a 2.4% yield, with a payout ratio of 33.86%.

Meridian Investment Counsel Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,783 shares of the shipping service provider's stock after selling 2,670 shares during the period. FedEx comprises 1.0% of Meridian Investment Counsel Inc.'s portfolio, making the stock its 29th largest position. Meridian Investment Counsel Inc.'s holdings in FedEx were worth $3,588,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new stake in FedEx in the first quarter valued at $38,000. WPG Advisers LLC acquired a new stake in FedEx in the first quarter valued at $43,000. Cary Street Partners Investment Advisory LLC raised its holdings in FedEx by 60.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider's stock valued at $46,000 after acquiring an additional 71 shares in the last quarter. SOA Wealth Advisors LLC. raised its holdings in FedEx by 60.6% in the first quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider's stock valued at $61,000 after acquiring an additional 94 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in FedEx in the first quarter valued at $65,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Dbs Bank raised shares of FedEx from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 21st. Stifel Nicolaus cut their price target on shares of FedEx from $308.00 to $296.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. HSBC upped their price target on shares of FedEx from $230.00 to $235.00 in a report on Friday, September 19th. Vertical Research dropped their target price on shares of FedEx from $280.00 to $275.00 in a report on Friday, September 19th. Finally, Cowen reissued a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.67.

FedEx Stock Up 0.6%

FedEx stock opened at $237.89 on Friday. The company has a 50-day simple moving average of $229.31 and a 200-day simple moving average of $226.13. The firm has a market capitalization of $56.13 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.31 and a beta of 1.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.4%. FedEx's dividend payout ratio is currently 33.86%.

Insider Transactions at FedEx

In other news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction dated 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 owned 15,513 shares of the company's stock, valued at $3,696,592.77. This represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,343 shares of company stock worth $2,228,816. Insiders own 0.53% of the company's stock.

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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