Public Employees Retirement System of Ohio Lowers Position in FedEx Corporation $FDX

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in FedEx Corporation by 3.1% during the second quarter, holding a total of 100,870 shares worth approximately $22.93 million.
• FedEx reported quarterly earnings of $3.83 per share, surpassing analyst expectations of $3.71, with revenue reaching $22.20 billion, an increase of 3.1% year-over-year.
• FedEx declared a quarterly dividend of $1.45 per share, with an annualized yield of 2.5%, and a current dividend payout ratio of 33.86%.

Public Employees Retirement System of Ohio lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,870 shares of the shipping service provider's stock after selling 3,198 shares during the quarter. Public Employees Retirement System of Ohio's holdings in FedEx were worth $22,929,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FDX. Nuveen LLC purchased a new position in shares of FedEx in the first quarter worth $314,650,000. ACR Alpine Capital Research LLC lifted its holdings in shares of FedEx by 85.9% in 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 buying an additional 732,266 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after buying an additional 542,605 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of FedEx by 1.4% in the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock worth $4,994,848,000 after buying an additional 289,655 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of FedEx by 302.6% in the first quarter. Canada Pension Plan Investment Board now owns 352,296 shares of the shipping service provider's stock worth $85,883,000 after buying an additional 264,792 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Trading Up 1.1%

FDX stock opened at $236.36 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The stock has a market capitalization of $55.77 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20. The firm's fifty day simple moving average is $229.08 and its two-hundred day simple moving average is $226.16.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating analysts' consensus estimates of $3.71 by $0.12. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.74 billion. During the same quarter in the previous year, the business posted $3.60 earnings per share. The business's revenue was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be issued a $1.45 dividend. The ex-dividend date is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. FedEx's dividend payout ratio is presently 33.86%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. Truist Financial reaffirmed a "buy" rating and set a $275.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Susquehanna upped their price target on shares of FedEx from $285.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, September 19th. BMO Capital Markets decreased their price target on shares of FedEx from $260.00 to $255.00 and set a "market perform" rating on the stock in a research note on Friday, September 19th. Finally, UBS Group upped their price target on shares of FedEx from $293.00 to $314.00 and gave the company a "buy" rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and a consensus target price of $271.67.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction dated Monday, July 7th. The stock was 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 in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,343 shares of company stock worth $2,228,816. Insiders own 0.53% of the company's stock.

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.

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