Violich Capital Management Inc. Reduces Stock Position in FedEx Corporation $FDX

Key Points

• Violich Capital Management Inc. has reduced its stake in FedEx Corporation (FDX) by 20.0% in the second quarter, selling 1,400 shares, which leaves them with a total of 5,591 shares valued at approximately $1,271,000.
• Analysts remain largely positive on FedEx, with the stock receiving a consensus rating of "Moderate Buy" and an average price target of $271.83.
• FedEx recently reported quarterly earnings of $3.83 per share, surpassing expectations and showing a year-over-year revenue increase of 3.1%.

Violich Capital Management Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,591 shares of the shipping service provider's stock after selling 1,400 shares during the period. Violich Capital Management Inc.'s holdings in FedEx were worth $1,271,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FDX. Valeo Financial Advisors LLC boosted its holdings in shares of FedEx by 28,080.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,743,557 shares of the shipping service provider's stock worth $850,948,000 after purchasing an additional 3,730,273 shares during the period. Nuveen LLC purchased a new stake in shares of FedEx during the first quarter worth about $314,650,000. ACR Alpine Capital Research LLC boosted its holdings in shares of 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 purchasing an additional 732,266 shares during the period. Vanguard Group Inc. boosted its holdings in shares of FedEx by 1.4% during 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 purchasing an additional 289,655 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in 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 during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and issued a $274.00 price objective (down from $284.00) on shares of FedEx in a report on Wednesday, October 8th. Cowen restated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. The Goldman Sachs Group lowered their price objective on shares of FedEx from $290.00 to $276.00 and set a "buy" rating for the company in a report on Friday, September 12th. Bank of America raised their price objective on shares of FedEx from $240.00 to $244.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Finally, Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average price target of $271.83.

FedEx Price Performance

Shares of NYSE FDX opened at $238.55 on Friday. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a 50 day simple moving average of $231.90 and a two-hundred day simple moving average of $225.47. The company has a market capitalization of $56.29 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter last year, the firm earned $3.60 earnings per share. The business'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. Analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 8th were given 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 dividend yield of 2.4%. FedEx's dividend payout ratio (DPR) is 33.86%.

About FedEx

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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