Parnassus Investments LLC Buys 68,158 Shares of FedEx Corporation $FDX

Key Points

• Parnassus Investments LLC increased its stake in FedEx Corporation by 22.6%, acquiring an additional 68,158 shares, bringing its total ownership to 369,368 shares worth $90 million.
• Recent analyst reports indicate fluctuating price targets for FedEx, with Wells Fargo setting a new target at $235 while Bank of America lowered its target to $245, contributing to an average target price of $282.96.
• FedEx has announced a quarterly dividend of $1.45 to be paid on October 1, which yields approximately 2.5% based on a payout ratio of 34.36%.

Parnassus Investments LLC grew its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,368 shares of the shipping service provider's stock after acquiring an additional 68,158 shares during the period. Parnassus Investments LLC owned about 0.15% of FedEx worth $90,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of 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 buying an additional 207 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of FedEx by 22.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 167,139 shares of the shipping service provider's stock valued at $47,021,000 after buying an additional 30,569 shares in the last quarter. Utah Retirement Systems grew its position in shares of FedEx by 0.5% in the fourth quarter. Utah Retirement Systems now owns 37,636 shares of the shipping service provider's stock valued at $10,588,000 after purchasing an additional 200 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of FedEx by 3.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,685 shares of the shipping service provider's stock valued at $1,318,000 after acquiring an additional 148 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in FedEx in the 4th quarter worth approximately $86,960,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FDX. Wells Fargo & Company lifted their price target on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Stephens reissued an "overweight" rating and set a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. TD Cowen cut their target price on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. UBS Group dropped their price objective on shares of FedEx from $297.00 to $293.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price for the company in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $282.96.

Insider Activity

In other news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the sale, the director owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 in the last quarter. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Down 0.1%

Shares of NYSE FDX traded down $0.31 during midday trading on Monday, reaching $230.96. The company's stock had a trading volume of 1,485,470 shares, compared to its average volume of 1,666,445. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The stock has a market capitalization of $54.49 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.20 and a beta of 1.20. The stock has a 50 day simple moving average of $230.69 and a 200-day simple moving average of $229.65.

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

FedEx Announces Dividend

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

FedEx 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.