New Vernon Investment Management LLC Sells 19,822 Shares of FedEx Corporation $FDX

Key Points

• New Vernon Investment Management LLC significantly reduced its stake in FedEx Corporation by 92.5%, selling 19,822 shares and leaving it with only 1,600 shares valued at $390,000.
• Several hedge funds have increased their positions in FedEx, including Nuveen LLC, which purchased a new position worth approximately $314.65 million, and ACR Alpine Capital Research LLC, which boosted its holdings by 85.9%.
• FedEx recently declared a quarterly dividend of $1.45 per share, representing an annualized dividend of $5.80 and a dividend yield of 2.5%.

New Vernon Investment Management LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 92.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,600 shares of the shipping service provider's stock after selling 19,822 shares during the quarter. New Vernon Investment Management LLC's holdings in FedEx were worth $390,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FDX. Nuveen LLC bought a new position in shares of FedEx during the first quarter worth approximately $314,650,000. ACR Alpine Capital Research LLC increased its holdings in shares of FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after purchasing an additional 732,266 shares during the period. GAMMA Investing LLC increased its holdings in shares of FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after purchasing an additional 542,605 shares during the period. Worldquant Millennium Advisors LLC boosted its position in shares of FedEx by 276.1% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 433,789 shares of the shipping service provider's stock worth $122,038,000 after acquiring an additional 318,448 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of FedEx by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock worth $4,994,848,000 after acquiring an additional 289,655 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Activity

In other news, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,343 shares of company stock valued at $2,228,816. Insiders own 0.53% of the company's stock.

FedEx Stock Performance

Shares of FedEx stock opened at $230.96 on Friday. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week 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 firm has a market capitalization of $54.49 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 1.30. The company's 50 day moving average price is $230.69 and its two-hundred day moving average price is $230.11.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the business posted $5.41 earnings per share. FedEx has set its Q1 2026 guidance at 3.400-4.000 EPS. On average, equities analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. FedEx's dividend payout ratio (DPR) is presently 34.36%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James Financial reiterated an "outperform" rating and set a $260.00 price target (down previously from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Stephens reiterated an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Sanford C. Bernstein reduced their price target on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. JPMorgan Chase & Co. increased their price target on shares of FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Finally, Barclays reiterated an "overweight" rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. One equities research 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 company's stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $282.96.

FedEx Company 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.

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