Moran Wealth Management LLC Trims Holdings in FedEx Corporation $FDX

Key Points

• Moran Wealth Management cut its FedEx stake by 14.8% in the first quarter, selling 13,113 shares and leaving it with 75,254 shares valued at about $26.8 million.
• FedEx reported better-than-expected quarterly results, posting EPS of $6.31 versus $5.91 expected and revenue of $25.01 billion, up 12.5% year over year.
• Despite the earnings beat, several analysts lowered price targets on FDX, though the stock still carries a consensus rating of Moderate Buy with a target price of $349.60.

Moran Wealth Management LLC reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 75,254 shares of the shipping service provider's stock after selling 13,113 shares during the quarter. FedEx accounts for 0.8% of Moran Wealth Management LLC's investment portfolio, making the stock its 16th largest position. Moran Wealth Management LLC's holdings in FedEx were worth $26,804,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in FDX. Brighton Jones LLC lifted its stake in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC boosted its position in shares of FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of FedEx in the second quarter valued at $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx in the second quarter valued at $186,000. Finally, Jump Financial LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at $456,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial decreased their target price on FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. Raymond James Financial dropped their target price on FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a research report on Wednesday, June 24th. Barclays cut their price target on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Citigroup increased their price target on shares of FedEx from $356.73 to $359.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reissued a "buy" rating on shares of FedEx in a research note on Friday, June 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.60.

Insider Buying and Selling at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 53,146 shares of company stock valued at $19,235,438. 0.53% of the stock is currently owned by company insiders.

FedEx Trading Up 0.1%

NYSE:FDX opened at $313.21 on Friday. The firm has a market cap of $74.73 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The stock has a fifty day moving average price of $356.40 and a 200 day moving average price of $347.60. FedEx Corporation has a 12-month low of $172.88 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.

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, topping the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $25.01 billion during the quarter, compared to analysts' expectations of $24.04 billion. During the same period in the previous year, the firm posted $6.07 EPS. FedEx's revenue for the quarter was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

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 given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's 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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