FedEx Corporation $FDX Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in FedEx Corporation (NYSE:FDX) by 6.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,187 shares of the shipping service provider’s stock after acquiring an additional 1,728 shares during the period. Wealthfront Advisers LLC’s holdings in FedEx were worth $10,752,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FDX. Norges Bank purchased a new position in shares of FedEx during the 4th quarter worth $859,085,000. Boston Partners purchased a new stake in shares of FedEx in the third quarter valued at $468,195,000. AQR Capital Management LLC grew its position 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 purchasing an additional 1,718,278 shares during the period. Waddell & Associates LLC increased its stake in FedEx by 164.0% in the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after purchasing an additional 738,122 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in FedEx by 3,211.5% in the third quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock valued at $129,532,000 after purchasing an additional 532,718 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FedEx stock opened at $313.17 on Friday. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The stock has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a PEG ratio of 1.98 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average price is $342.12 and its 200 day moving average price is $349.22.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. The firm had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, research analysts anticipate that FedEx Corporation will post 14.54 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s payout ratio is presently 26.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citizens Jmp began coverage on FedEx in a research note on Wednesday. They issued a “market outperform” rating and a $375.00 price target on the stock. TD Cowen dropped their price objective on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Citigroup began coverage on shares of FedEx in a report on Wednesday. They set an “outperform” rating on the stock. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Barclays lowered their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.54.

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.