Hsbc Holdings PLC Has $128.34 Million Holdings in FedEx Corporation $FDX

Key Points

• HSBC Holdings PLC trimmed its FedEx position by 13.5% in the first quarter, selling 56,221 shares and ending with 361,361 shares worth about $128.3 million.
• FedEx reported better-than-expected quarterly results, posting EPS of $6.31 versus estimates of $5.91 and revenue of $25.01 billion versus expectations of $24.04 billion, with revenue up 12.5% year over year.
• Analyst sentiment remains generally positive despite mixed target-price changes, with FedEx carrying a consensus rating of Moderate Buy and an average price target of $350.54.

Hsbc Holdings PLC lessened its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 361,361 shares of the shipping service provider's stock after selling 56,221 shares during the quarter. Hsbc Holdings PLC owned about 0.15% of FedEx worth $128,337,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bayban bought a new position in shares of FedEx in the 1st quarter valued at approximately $26,000. EFG International AG bought a new stake in FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC acquired a new position in FedEx during the third quarter valued at approximately $28,000. Ulland Investment Advisors LLC acquired a new position in FedEx during the fourth quarter valued at approximately $29,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Trading Down 1.6%

Shares of FedEx stock opened at $313.17 on Friday. The company's fifty day simple moving average is $342.12 and its 200-day simple moving average is $349.22. The company has a market cap of $74.72 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.95 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36.

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

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx's payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of analyst reports. Stephens upgraded shares of FedEx to a "strong-buy" rating in a research note on Wednesday, July 8th. Rothschild & Co Redburn dropped their target price on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Raymond James Financial decreased their price target on shares of FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a report on Wednesday, June 24th. Finally, Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $350.54.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated 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 sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

About FedEx

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.

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