FedEx Corporation $FDX Position Trimmed by Swedbank AB

Swedbank AB decreased its holdings in FedEx Corporation (NYSE:FDX) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,792 shares of the shipping service provider’s stock after selling 1,996 shares during the period. Swedbank AB owned about 0.05% of FedEx worth $44,448,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. 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 worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the last quarter. State Street Corp raised its holdings in shares of FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares in the last quarter. Franklin Resources Inc. boosted its position in FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the last quarter. Geode Capital Management LLC boosted its position in FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. grew its stake in FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after purchasing an additional 108,426 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,146 shares of company stock valued at $19,235,438. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Performance

FDX opened at $310.13 on Thursday. The company has a market cap of $74.00 billion, a PE ratio of 16.75 and a beta of 1.29. The stock has a 50-day moving average of $351.69 and a 200-day moving average of $348.63. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same quarter in the prior year, the firm posted $6.07 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 26.36%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen dropped their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Citigroup lifted their price target on FedEx from $356.73 to $359.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Wells Fargo & Company dropped their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Rothschild & Co Redburn cut their price objective on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Evercore set a $165.00 target price on shares of FedEx in a research note on Friday, June 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $349.60.

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.