Freemont Management S.A. Makes New Investment in FedEx Corporation $FDX

Key Points

• Freemont Management S.A. opened a new position in FedEx, buying 6,900 shares worth about $2.46 million in the first quarter.
• FedEx recently delivered a strong quarterly report, with EPS of $6.31 beating estimates and revenue of $25.01 billion topping expectations; revenue also rose 12.5% year over year.
• Despite the positive results, FedEx shares were trading at $313.17, below recent moving averages, while analysts maintained a Moderate Buy consensus with a target price around $350.54.

Freemont Management S.A. acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,900 shares of the shipping service provider's stock, valued at approximately $2,458,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Bayban purchased a new position in shares of FedEx in the 1st quarter valued at approximately $26,000. Cedar Mountain Advisors LLC grew its stake in FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock worth $33,000 after purchasing an additional 41 shares during the period. EFG International AG purchased a new stake in FedEx in the fourth quarter worth $27,000. Ulland Investment Advisors LLC bought a new position in FedEx in the fourth quarter worth $29,000. Finally, Tucker Asset Management LLC bought a new position in FedEx in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $313.17 on Friday. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The business has a fifty day moving average price of $342.12 and a 200-day moving average price of $349.22. The company has a market capitalization of $74.72 billion, a PE ratio of 16.92, a PEG ratio of 1.95 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.40. The firm had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.FedEx's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, equities analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx's dividend payout ratio (DPR) is 26.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FDX shares. UBS Group lowered their price objective on FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Argus increased their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, April 6th. TD Cowen dropped their price objective on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. BNP Paribas Exane cut their price objective on shares of FedEx from $335.00 to $269.76 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. Finally, Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.