Y Intercept Hong Kong Ltd Acquires Shares of 24,219 FedEx Corporation $FDX

Key Points

• Y Intercept Hong Kong Ltd opened a new position in FedEx, buying 24,219 shares valued at about $8.63 million in the first quarter.
• FedEx reported better-than-expected quarterly results, with earnings of $6.31 per share and revenue of $25.01 billion, both above analyst estimates.
• Analysts remain mixed but broadly constructive: FedEx has a Moderate Buy consensus rating, though several firms recently cut price targets even as others reiterated buy ratings.

Y Intercept Hong Kong Ltd bought a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 24,219 shares of the shipping service provider's stock, valued at approximately $8,626,000.

A number of other hedge funds also recently bought and sold shares of FDX. Franklin Resources Inc. lifted its holdings in FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider's stock worth $1,135,411,000 after buying an additional 269,567 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx in the second quarter worth $586,000. CWM LLC increased its position in shares of FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider's stock worth $31,206,000 after acquiring an additional 26,322 shares during the period. Canada Post Corp Registered Pension Plan raised its stake in shares of FedEx by 85.9% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after acquiring an additional 3,138 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after acquiring an additional 6,864 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FDX shares. Wall Street Zen raised FedEx from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 6th. Seaport Research Partners assumed coverage on FedEx in a research report on Wednesday, May 27th. They issued a "buy" rating on the stock. BMO Capital Markets reiterated a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. Raymond James Financial lowered their price objective on FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a research report on Wednesday, June 24th. Finally, Truist Financial cut their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $349.60.

Insider Buying and Selling at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares of the company's stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is owned by insiders.

FedEx Trading Up 0.1%

NYSE:FDX opened at $313.21 on Friday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The stock has a market cap of $74.73 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a 50-day simple moving average of $356.40 and a 200-day simple moving average of $347.60.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.40. The business had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx's dividend payout ratio (DPR) is presently 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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