iA Global Asset Management Inc. Buys New Shares in FedEx Corporation $FDX

iA Global Asset Management Inc. acquired a new position in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,925 shares of the shipping service provider’s stock, valued at approximately $686,000.

A number of other hedge funds have also modified their holdings of the stock. EFG International AG acquired a new position in shares of FedEx in the 4th quarter valued at $27,000. Ulland Investment Advisors LLC acquired a new stake in FedEx during the 4th quarter worth about $29,000. Tucker Asset Management LLC purchased a new stake in FedEx during the fourth quarter valued at about $29,000. Wilkerson Advisory Group LLC purchased a new stake in FedEx during the fourth quarter valued at about $29,000. Finally, ORG Partners LLC boosted its holdings in shares of FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after buying an additional 35 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX opened at $313.21 on Friday. 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 firm has a market cap of $74.73 billion, a PE ratio of 16.92, a PEG ratio of 1.36 and a beta of 1.29. The firm’s 50 day moving average price is $357.86 and its 200 day moving average price is $347.84. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is currently 26.36%.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,146 shares of company stock worth $19,235,438 over the last 90 days. Company insiders own 0.53% of the company’s stock.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: The $1.4 billion sale of FedEx Supply Chain could help streamline operations, sharpen focus on core shipping services, and provide cash that may support margins or shareholder returns. FedEx strikes $1.4bn deal to sell logistics unit to CMA CGM
• Positive Sentiment: Goldman Sachs initiated coverage of newly spun-off FedEx Freight with a Buy rating, citing potential margin expansion and improved profitability, which could support broader investor sentiment toward the FedEx restructuring story. Goldman Sachs initiates FedEx Freight with Buy, sees 23% margin expansion upside
• Neutral Sentiment: News that CMA CGM hired a former FedEx logistics executive adds context to the deal but is not likely to materially change the near-term thesis by itself. CMA CGM hires FedEx executive Moebel to lead Ceva Logistics
• Negative Sentiment: Seeking Alpha published a cautious view arguing the bullish case for FedEx depends on a margin recovery that is not yet visible, reinforcing concerns that cost cuts may not fully offset soft demand. FedEx: The Bull Case Relies On A Margin Recovery That Isn’t Visible Yet
• Negative Sentiment: Director Paul S. Walsh sold 5,042 shares, which can signal reduced insider confidence even though the sale was relatively small compared with his remaining holdings. SEC insider transaction filing

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. Susquehanna boosted their price target on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a report on Friday, March 20th. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Barclays lowered their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Wolfe Research reduced their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group decreased their target price on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.60.

About FedEx

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.