WealthBridge Investment Counsel Inc. Reduces Stock Holdings in FedEx Corporation $FDX

Key Points

• WealthBridge Investment Counsel Inc. decreased its stake in FedEx Corporation by 3.8%, now holding 30,770 shares valued at approximately $6.99 million, making it the firm's 20th largest investment.
• Institutional investors collectively own 84.47% of FedEx stock, with recent changes including Brighton Jones LLC and Man Group plc significantly increasing their positions.
• FedEx recently reported quarterly earnings of $3.83 EPS, exceeding analyst expectations, with revenue of $22.20 billion, while also announcing a quarterly dividend of $1.45 per share.

WealthBridge Investment Counsel Inc. decreased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,770 shares of the shipping service provider's stock after selling 1,200 shares during the quarter. FedEx accounts for 2.3% of WealthBridge Investment Counsel Inc.'s portfolio, making the stock its 20th largest position. WealthBridge Investment Counsel Inc.'s holdings in FedEx were worth $6,994,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FDX. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 289,655 shares during the last quarter. Invesco Ltd. raised its position in shares of FedEx by 1.4% during the 1st quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock valued at $795,940,000 after purchasing an additional 43,989 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in FedEx by 7.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 2,030,687 shares of the shipping service provider's stock valued at $495,041,000 after acquiring an additional 135,290 shares during the last quarter. ACR Alpine Capital Research LLC increased its holdings in shares of FedEx by 85.9% in the 1st 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of FedEx by 0.4% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,343 shares of company stock valued at $2,228,816. 0.53% of the stock is currently owned by corporate insiders.

FedEx Stock Down 0.6%

Shares of FDX traded down $1.35 during midday trading on Monday, hitting $230.40. The company had a trading volume of 3,849,418 shares, compared to its average volume of 2,031,083. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53. The company's 50 day moving average price is $228.84 and its 200 day moving average price is $226.29. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The stock has a market cap of $54.36 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.34 and a beta of 1.20.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $21.74 billion. During the same quarter in the prior year, the business posted $3.60 earnings per share. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FDX. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $285.00 to $284.00 and set an "overweight" rating for the company in a research report on Friday. TD Cowen increased their price objective on shares of FedEx from $269.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of FedEx from $235.00 to $250.00 and gave the company an "equal weight" rating in a research report on Friday. The Goldman Sachs Group decreased their price objective on shares of FedEx from $290.00 to $276.00 and set a "buy" rating on the stock in a report on Friday, September 12th. Finally, Sanford C. Bernstein lifted their target price on shares of FedEx from $247.00 to $250.00 and gave the stock a "market perform" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $271.67.

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.