FedEx Corporation $FDX Stock Position Lowered by Mengis Capital Management Inc.

Mengis Capital Management Inc. lowered its stake in FedEx Corporation (NYSE:FDX) by 2.1% during the second quarter, HoldingsChannel reports. The firm owned 10,070 shares of the shipping service provider’s stock after selling 221 shares during the period. Mengis Capital Management Inc.’s holdings in FedEx were worth $2,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Financial LLC acquired a new position in shares of FedEx in the first quarter worth about $38,000. WPG Advisers LLC purchased a new position in shares of FedEx during the first quarter valued at $43,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of FedEx by 60.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock valued at $46,000 after buying an additional 71 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of FedEx during the first quarter valued at $65,000. Finally, Motco grew its holdings in shares of FedEx by 61.8% during the first quarter. Motco now owns 267 shares of the shipping service provider’s stock valued at $65,000 after buying an additional 102 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE:FDX opened at $236.90 on Friday. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The business has a 50-day moving average of $230.61 and a two-hundred day moving average of $226.00. The stock has a market capitalization of $55.90 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.12. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.4%. FedEx’s dividend payout ratio is 33.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on FedEx from $235.00 to $250.00 and gave the company an “equal weight” rating in a report on Friday, September 19th. Susquehanna lifted their price target on FedEx from $285.00 to $300.00 and gave the company a “positive” rating in a report on Friday, September 19th. BNP Paribas Exane upgraded FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Thursday, July 3rd. Barclays reiterated an “overweight” rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Finally, Evercore ISI lowered their target price on FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $271.25.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.