FedEx Corporation $FDX Stock Position Reduced by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its stake in FedEx by 5.4%, selling 4,503 shares, and now holds 78,735 shares valued at approximately $17.9 million.
• FedEx reported a quarterly earnings per share (EPS) of $3.83, exceeding expectations of $3.71, and showed a 3.1% increase in revenue year-over-year.
• Analysts have set new price targets for FedEx, with Susquehanna increasing its target from $285 to $300, reflecting a generally positive sentiment towards the stock.

Truist Financial Corp lowered its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,735 shares of the shipping service provider's stock after selling 4,503 shares during the period. Truist Financial Corp's holdings in FedEx were worth $17,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FDX. Abound Financial LLC bought a new stake in shares of FedEx in the 1st quarter valued at approximately $38,000. WPG Advisers LLC acquired a new stake in FedEx in the first quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC lifted its stake 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 during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of FedEx by 60.6% during the 1st quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider's stock valued at $61,000 after purchasing an additional 94 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in shares of FedEx during the 1st quarter valued at $65,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE FDX opened at $244.14 on Friday. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The stock has a market capitalization of $57.61 billion, a PE ratio of 14.25, a P/E/G ratio of 1.34 and a beta of 1.28. The stock has a 50-day simple moving average of $229.77 and a 200 day simple moving average of $226.00. 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 (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, September 18th. The shipping service provider reported $3.83 EPS for the quarter, topping analysts' consensus estimates of $3.71 by $0.12. The company 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%.The company's quarterly revenue was up 3.1% compared to the same quarter last year. 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. Research analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on FDX shares. Susquehanna increased their target price on shares of FedEx from $285.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, September 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of FedEx in a research note on Saturday, September 27th. Dbs Bank upgraded FedEx from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 21st. TD Cowen upped their price target on FedEx from $269.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company boosted their target price on FedEx from $235.00 to $250.00 and gave the stock an "equal weight" rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $271.67.

Insider Activity

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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,343 shares of company stock valued at $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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

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.