Janney Montgomery Scott LLC Sells 10,993 Shares of FedEx Corporation $FDX

Key Points

• Janney Montgomery Scott LLC reduced its FedEx stake by 16.6% in the first quarter, selling 10,993 shares and leaving it with 55,268 shares valued at about $19.7 million.
• FedEx insiders have also been selling shares, including EVP Gina F. Adams and Director Susan C. Schwab, with insiders selling 48,104 shares worth about $17.6 million over the last 90 days.
• FedEx beat quarterly earnings and revenue expectations on June 23, reporting $6.31 EPS on $25.01 billion in revenue, while analysts currently rate the stock a “Moderate Buy” with an average price target of $349.60.

Janney Montgomery Scott LLC lessened its position in FedEx Corporation (NYSE:FDX - Free Report) by 16.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,268 shares of the shipping service provider's stock after selling 10,993 shares during the period. Janney Montgomery Scott LLC's holdings in FedEx were worth $19,686,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of FDX. EFG International AG bought a new position in shares of FedEx in the fourth quarter valued at about $27,000. Ulland Investment Advisors LLC bought a new position in FedEx in the fourth quarter valued at approximately $29,000. Tucker Asset Management LLC acquired a new stake in shares of FedEx during the fourth quarter worth $29,000. Wilkerson Advisory Group LLC bought a new stake in FedEx in the fourth quarter valued at approximately $29,000. Finally, ORG Partners LLC increased its position in shares of FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock valued at $30,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Transactions at FedEx

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 in the last 90 days. Corporate insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. Morgan Stanley increased their price target on FedEx from $220.00 to $230.00 and gave the company an "underweight" rating in a research note on Friday, March 20th. HSBC cut their target price on shares of FedEx from $360.00 to $289.89 and set a "hold" rating for the company in a research note on Monday, June 1st. Finally, Stifel Nicolaus lowered their target price on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $349.60.

FedEx Stock Down 3.7%

Shares of NYSE FDX opened at $313.44 on Wednesday. The firm has a market cap of $74.79 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28. The company has a 50 day simple moving average of $361.08 and a 200 day simple moving average of $347.43. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. 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 issued its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to analysts' expectations of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, research analysts forecast that FedEx Corporation will post 20.89 EPS for the current year.

FedEx Cuts Dividend

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

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.

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