FedEx Corporation $FDX Shares Sold by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC reduced its stake in FedEx Corporation by 38.7%, owning 4,010 shares worth $912,000 after selling 2,530 shares in Q2.
• Analysts have raised their price targets for FedEx, with a consensus rating of "Moderate Buy" and an average target price of $271.67.
• FedEx announced a quarterly dividend of $1.45 per share, reflecting a 2.4% annual yield and a payout ratio of 33.86%.

Park Avenue Securities LLC trimmed its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,010 shares of the shipping service provider's stock after selling 2,530 shares during the period. Park Avenue Securities LLC's holdings in FedEx were worth $912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Abound Financial LLC purchased a new position in FedEx in the 1st quarter worth about $38,000. WPG Advisers LLC purchased a new position in FedEx in the 1st quarter worth about $43,000. Cary Street Partners Investment Advisory LLC increased its stake in FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider's stock worth $46,000 after purchasing an additional 71 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in FedEx by 60.6% in the 1st quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider's stock worth $61,000 after purchasing an additional 94 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in FedEx in the 1st quarter worth about $65,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Daiwa Capital Markets lifted their price target on FedEx from $232.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, September 22nd. Bank of America lifted their price target on FedEx from $240.00 to $244.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Sanford C. Bernstein lifted their price target on FedEx from $247.00 to $250.00 and gave the company a "market perform" rating in a report on Monday, September 22nd. Stifel Nicolaus lowered their price target on FedEx from $308.00 to $296.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Finally, Susquehanna lifted their price target on FedEx from $285.00 to $300.00 and gave the company a "positive" rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $271.67.

Insider Buying and Selling at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 value of $860,226.90. Following the sale, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of NYSE FDX opened at $237.89 on Friday. The business's 50-day moving average price is $229.31 and its two-hundred day moving average price is $226.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53. The company has a market capitalization of $56.13 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results 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 return on equity of 16.33% and a net margin of 4.65%.The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The business's quarterly 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. Analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company 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. The ex-dividend date is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.4%. FedEx's payout ratio is 33.86%.

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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