State of Alaska Department of Revenue Sells 1,220 Shares of FedEx Corporation $FDX

Key Points

• The State of Alaska Department of Revenue reduced its FedEx holdings by 2.7%, now owning 44,622 shares worth approximately $10.14 million.
• Analysts have varying target prices for FedEx, with Wolfe Research increasing its target from $244 to $254 and Wells Fargo raising its target from $235 to $250, highlighting positive market sentiment.
• FedEx recently announced a quarterly dividend of $1.45 per share, translating to an annual yield of 2.4% based on current share prices.

State of Alaska Department of Revenue trimmed its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,622 shares of the shipping service provider's stock after selling 1,220 shares during the period. State of Alaska Department of Revenue's holdings in FedEx were worth $10,142,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patton Fund Management Inc. bought a new position in shares of FedEx in the 2nd quarter worth $236,000. ST Germain D J Co. Inc. raised its position in FedEx by 16.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 467 shares of the shipping service provider's stock valued at $106,000 after buying an additional 66 shares during the last quarter. CX Institutional raised its position in FedEx by 4.7% in the 2nd quarter. CX Institutional now owns 3,689 shares of the shipping service provider's stock valued at $838,000 after buying an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its position in FedEx by 2.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,558 shares of the shipping service provider's stock valued at $809,000 after buying an additional 72 shares during the last quarter. Finally, Maridea Wealth Management LLC purchased a new stake in FedEx in the 2nd quarter valued at $540,000. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wolfe Research raised their target price on FedEx from $244.00 to $254.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. 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 research report on Friday, September 19th. BMO Capital Markets decreased their target price on FedEx from $260.00 to $255.00 and set a "market perform" rating for the company in a research report on Friday, September 19th. JPMorgan Chase & Co. decreased their target price on FedEx from $285.00 to $284.00 and set an "overweight" rating for the company in a research report on Friday, September 19th. Finally, Daiwa Capital Markets raised their target price on FedEx from $232.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $271.67.

FedEx Price Performance

Shares of FedEx stock opened at $237.89 on Friday. The company has a market cap of $56.13 billion, a PE ratio of 13.89, a P/E/G ratio of 1.32 and a beta of 1.20. The business has a 50 day moving average of $229.31 and a 200 day moving average of $226.01. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53. 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 (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.71 by $0.12. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, equities research analysts forecast 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 2.4%. FedEx's dividend payout ratio (DPR) is currently 33.86%.

Insider Activity

In related news, Director Marvin R. Ellison sold 3,610 shares of the business's 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 in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. 0.53% of the stock is currently owned by company insiders.

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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