Raymond James Financial Inc. Sells 251,557 Shares of FedEx Corporation $FDX

Key Points

• Raymond James Financial Inc. reduced its shareholding in FedEx Corporation by 30.2%, selling 251,557 shares and ending up with a total of 580,306 shares valued at approximately $141.5 million.
• FedEx recently reported an earnings per share (EPS) of $6.07 for the quarter, beating analyst expectations by $0.09, and its revenue was reported at $22.20 billion, exceeding estimates of $21.86 billion.
• The company announced a quarterly dividend of $1.45, set to be paid on October 1st, with an annualized yield of 2.6%.

Raymond James Financial Inc. decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 580,306 shares of the shipping service provider's stock after selling 251,557 shares during the period. Raymond James Financial Inc. owned 0.24% of FedEx worth $141,467,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FDX. Transce3nd LLC bought a new position in FedEx in the fourth quarter valued at about $26,000. Accredited Wealth Management LLC bought a new position in FedEx during the fourth quarter worth about $35,000. Abound Financial LLC bought a new position in FedEx during the first quarter worth about $38,000. Optiver Holding B.V. bought a new position in FedEx during the fourth quarter worth about $39,000. Finally, Ameriflex Group Inc. bought a new position in FedEx during the fourth quarter worth about $43,000. Institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent analyst reports. Truist Financial restated a "buy" rating and set a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. Susquehanna raised their target price on FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Sanford C. Bernstein dropped their price target on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. Barclays reaffirmed an "overweight" rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. Finally, BNP Paribas Exane raised FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target on the stock in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $283.13.

Insider Transactions at FedEx

In other 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 transaction of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction that occurred 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 transaction, the director owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is owned by company insiders.

FedEx Stock Up 4.8%

FedEx stock traded up $10.9110 during midday trading on Friday, reaching $236.1910. The stock had a trading volume of 1,748,082 shares, compared to its average volume of 1,978,859. The firm's fifty day simple moving average is $229.69 and its 200-day simple moving average is $231.10. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The stock has a market capitalization of $55.73 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%.During the same period last year, the company earned $5.41 earnings per share. FedEx has set its Q1 2026 guidance at 3.400-4.000 EPS. As a group, analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) is currently 34.36%.

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.