Kingsview Wealth Management LLC Acquires Shares of 4,188 FedEx Corporation $FDX

Key Points

• Kingsview Wealth Management acquired 4,188 FedEx shares in the second quarter, valued at approximately $1.31 million. Other institutions also increased or initiated positions, with institutional investors and hedge funds owning 84.47% of the stock.
• FedEx reported quarterly EPS of $5.88 on $23.26 billion in revenue and declared a quarterly dividend of $1.22 per share, equivalent to a 1.5% yield and $4.88 annualized payout.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $350.54, versus the reported share price of $331.10.

Kingsview Wealth Management LLC bought a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,188 shares of the shipping service provider's stock, valued at approximately $1,311,000.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Sivia Capital Partners LLC bought a new position in shares of FedEx in the second quarter worth $586,000. Canada Post Corp Registered Pension Plan grew its stake in FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock worth $1,962,000 after buying an additional 3,138 shares in the last quarter. North Dakota State Investment Board bought a new position in FedEx in the 4th quarter valued at about $2,122,000. OMERS ADMINISTRATION Corp raised its position in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock valued at $6,169,000 after buying an additional 8,868 shares in the last quarter. Finally, First Nebraska Trust Co bought a new stake in shares of FedEx during the 1st quarter worth approximately $10,675,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was 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 directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

FedEx Stock Performance

Shares of FDX stock opened at $331.10 on Friday. The business's 50-day moving average price is $319.32 and its 200-day moving average price is $350.71. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $78.36 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.70 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx's payout ratio is currently 26.36%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FDX shares. Wells Fargo & Company decreased their price target on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Citigroup initiated coverage on FedEx in a research note on Wednesday, July 15th. They issued an "outperform" rating on the stock. BNP Paribas Exane lowered their target price on FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of FedEx to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of FedEx from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.54.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: The U.S. Transportation Command awarded FedEx and United Parcel Service modified defense contracts valued at approximately $2.72 billion each. The agreements run through September 2030 and could provide FedEx with steady, multiyear government revenue. FedEx Corporation is Growing Faster, but Could United Parcel Have More Margin Upside?
• Positive Sentiment: FedEx committed about $400 million to air-cargo hubs in Delhi and Mumbai. The facilities will add more than 500,000 square feet of capacity and position the company to benefit from India’s expected logistics growth. FedEx Commits $400 Million to Indian Air Cargo Growth With Delhi, Mumbai Hubs
• Positive Sentiment: The board declared a quarterly dividend of $1.22 per share. Commentators also argue that FedEx’s growth profile and valuation could offer upside, with Wall Street’s average recommendation remaining bullish, though analyst optimism should be treated cautiously. Following FedEx Dividend and India Hub Plans, Are Shares Below Fair Value?
• Neutral Sentiment: FedEx’s freight separation is prompting investors to compare the standalone freight business with the remaining parcel and logistics company. The transaction may sharpen strategic focus, but the preferred investment depends on execution and the future performance of each stock. FedEx Just Spun Off Its Freight Division. Which Stock Should You Own?
• Neutral Sentiment: FedEx shareholders will vote on three governance proposals, creating a potential near-term corporate-governance catalyst, although the available report does not specify the proposals or their likely effect. FedEx Shareholders Will Vote On Three Governance Proposals
• Negative Sentiment: Investors continue to weigh tariff uncertainty, shifting trade routes and geopolitical disruption. FedEx’s CEO believes supply-chain “reglobalization” could create opportunities, but those conditions can also pressure volumes, costs and margins. The Supply-Chain Savant: How FedEx CEO Raj Subramaniam Leads Through Reglobalization

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source