QRG Capital Management Inc. Has $6.88 Million Stake in FedEx Corporation $FDX

Key Points

• QRG Capital Management Inc. reduced its stake in FedEx Corporation by 58.2%, now holding $6.88 million worth of shares after selling over 42,000 shares in the second quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Invesco Ltd., have increased their positions in FedEx, highlighting strong interest from larger entities in the shipping provider.
• FedEx reported a quarterly earnings per share of $3.83, exceeding expectations, with a revenue of $22.20 billion, reflecting a 3.1% increase year-over-year.

QRG Capital Management Inc. decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 58.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,259 shares of the shipping service provider's stock after selling 42,047 shares during the quarter. QRG Capital Management Inc.'s holdings in FedEx were worth $6,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 valued at $4,994,848,000 after purchasing an additional 289,655 shares during the last quarter. Invesco Ltd. grew its position in FedEx by 1.4% during the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock worth $795,940,000 after buying an additional 43,989 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in FedEx by 7.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,030,687 shares of the shipping service provider's stock worth $495,041,000 after buying an additional 135,290 shares in the last quarter. ACR Alpine Capital Research LLC grew its position in 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 buying an additional 732,266 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in FedEx by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,506,226 shares of the shipping service provider's stock worth $367,188,000 after buying an additional 5,490 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction dated 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 of the company's stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the transaction, the director directly owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

FedEx Trading Up 0.7%

NYSE FDX opened at $244.14 on Monday. 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 company has a market cap of $57.61 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. The business's fifty day moving average is $229.77 and its 200 day moving average is $225.71.

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

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.4%. FedEx's payout ratio is presently 33.86%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FDX. Daiwa Capital Markets increased their price target on FedEx from $232.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, September 22nd. Evercore ISI reduced their price target on FedEx from $243.00 to $239.00 in a research report on Friday, September 19th. HSBC increased their price target on FedEx from $230.00 to $235.00 in a research report on Friday, September 19th. Raymond James Financial reissued an "outperform" rating and set a $255.00 price target on shares of FedEx in a research report on Thursday, September 18th. Finally, Wells Fargo & Company raised their target price on FedEx from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $271.67.

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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