Hedges Asset Management LLC Lowers Stock Holdings in FedEx Corporation $FDX

Key Points

• Hedges Asset Management LLC reduced its stake in FedEx by 20.7%, totaling 5,750 shares owned after selling 1,500 shares during the second quarter.
• FedEx's earnings report revealed an EPS of $6.07, exceeding the consensus estimate, and the company recently set a quarterly dividend of $1.45 per share.
• The stock currently has an average target price of $282.54 from analysts, with a majority maintaining a "buy" rating despite some recent target price reductions.

Hedges Asset Management LLC reduced its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 20.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,750 shares of the shipping service provider's stock after selling 1,500 shares during the period. Hedges Asset Management LLC's holdings in FedEx were worth $1,307,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in FedEx during the 1st quarter worth approximately $38,000. Ameriflex Group Inc. purchased a new stake in FedEx during the 4th quarter worth approximately $43,000. WPG Advisers LLC purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC increased its position in shares of 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 valued at $46,000 after purchasing an additional 71 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $70,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on FDX shares. Stifel Nicolaus dropped their price objective on shares of FedEx from $308.00 to $296.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays reissued an "overweight" rating and issued a $320.00 price objective (down from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. Bank of America increased their price objective on shares of FedEx from $240.00 to $244.00 and gave the company a "neutral" rating in a research report on Friday. Cowen reissued a "buy" rating on shares of FedEx in a research report on Wednesday, June 25th. Finally, Evercore ISI reissued an "in-line" rating and issued a $243.00 price objective (down from $249.00) on shares of FedEx in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $277.88.

FedEx Stock Up 2.5%

Shares of FedEx stock traded up $5.60 during trading hours on Friday, hitting $232.10. The company had a trading volume of 4,961,059 shares, compared to its average volume of 2,001,182. The company's 50-day moving average is $228.92 and its two-hundred day moving average is $226.73. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The company has a market cap of $54.76 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.27 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.12. The business had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.60 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio (DPR) is 34.36%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were 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. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Brad Martin sold 2,123 shares of the firm'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 transaction, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This trade represents a 19.20% 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. 0.53% of the stock is owned by corporate insiders.

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.