Capital Research Global Investors Has $29.32 Million Position in FedEx Corporation $FDX

Capital Research Global Investors lowered its position in FedEx Corporation (NYSE:FDX) by 43.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,489 shares of the shipping service provider’s stock after selling 77,588 shares during the quarter. Capital Research Global Investors’ holdings in FedEx were worth $29,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Norges Bank acquired a new position in shares of FedEx in the fourth quarter valued at approximately $859,085,000. Vanguard Group Inc. increased its stake in shares of FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after buying an additional 2,741,723 shares during the period. Boston Partners acquired a new position in shares of FedEx in the third quarter valued at approximately $468,195,000. Dodge & Cox increased its stake in shares of FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after buying an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. TD Cowen upped their price objective on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research note on Friday, March 20th. BMO Capital Markets decreased their target price on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating for the company in a research report on Monday, June 1st. BNP Paribas Exane decreased their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Bank of America decreased their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Finally, Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $372.41.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
• Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
• Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight

FedEx Stock Performance

NYSE:FDX opened at $331.79 on Wednesday. The company has a market capitalization of $79.17 billion, a PE ratio of 17.66, a P/E/G ratio of 1.50 and a beta of 1.28. The company has a 50 day simple moving average of $373.06 and a two-hundred day simple moving average of $341.80. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $341.14.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.51 EPS. Research analysts anticipate that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently declared 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. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio is presently 30.87%.

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.