Spartan Wealth Advisory Services LLC Takes Position in FedEx Corporation $FDX

Key Points

• Spartan Wealth Advisory Services opened a new position in FedEx during Q1, buying 9,627 shares valued at about $3.43 million.
• FedEx reported better-than-expected quarterly results, posting EPS of $6.31 versus the $5.91 estimate and revenue of $25.01 billion, up 12.5% year over year.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $350.54, even as director Paul S. Walsh sold 5,042 shares in a recent insider transaction.

Spartan Wealth Advisory Services LLC acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,627 shares of the shipping service provider's stock, valued at approximately $3,429,000.

Several other institutional investors have also modified their holdings of FDX. Bayban bought a new position in FedEx during the first quarter valued at about $26,000. EFG International AG bought a new stake in FedEx in the fourth quarter worth about $27,000. Wealth Watch Advisors INC acquired a new stake in FedEx in the 3rd quarter valued at about $28,000. Ulland Investment Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $29,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. Citigroup started coverage on shares of FedEx in a report on Wednesday. They issued an "outperform" rating on the stock. Jefferies Financial Group began coverage on shares of FedEx in a report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 target price for the company. Argus lifted their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Evercore set a $165.00 price target on FedEx in a report on Friday, June 26th. Finally, UBS Group cut their price objective on FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

FedEx Price Performance

NYSE FDX opened at $313.17 on Friday. The stock's 50-day moving average price is $342.12 and its two-hundred day moving average price is $349.22. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a market cap of $74.72 billion, a PE ratio of 16.92, a PEG ratio of 1.95 and a beta of 1.29. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same period in the prior year, the firm earned $6.07 earnings per share. The business's quarterly revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is 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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