South Dakota Investment Council Acquires 5,900 Shares of FedEx Corporation $FDX

South Dakota Investment Council grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,590 shares of the shipping service provider’s stock after buying an additional 5,900 shares during the period. South Dakota Investment Council’s holdings in FedEx were worth $17,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its stake in FedEx by 2.0% in the second quarter. State of Michigan Retirement System now owns 70,167 shares of the shipping service provider’s stock worth $15,950,000 after acquiring an additional 1,400 shares during the period. Zweig DiMenna Associates LLC purchased a new position in FedEx during the 2nd quarter valued at $7,559,000. Versor Investments LP raised its holdings in FedEx by 2.0% in the 2nd quarter. Versor Investments LP now owns 4,500 shares of the shipping service provider’s stock worth $1,023,000 after purchasing an additional 87 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of FedEx by 1.1% in the 2nd quarter. GHP Investment Advisors Inc. now owns 30,574 shares of the shipping service provider’s stock worth $6,950,000 after purchasing an additional 338 shares during the period. Finally, Navalign LLC boosted its stake in shares of FedEx by 1.7% during the 2nd quarter. Navalign LLC now owns 2,952 shares of the shipping service provider’s stock valued at $671,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FDX. Raymond James Financial restated an “outperform” rating and issued a $255.00 price objective on shares of FedEx in a report on Thursday, September 18th. Stifel Nicolaus lowered their target price on FedEx from $308.00 to $296.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Bank of America lifted their price target on FedEx from $240.00 to $244.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. Jefferies Financial Group increased their price objective on FedEx from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Finally, Wells Fargo & Company raised their price objective on FedEx from $235.00 to $250.00 and gave the company an “equal weight” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $271.83.

FedEx Trading Up 2.1%

FedEx stock opened at $254.05 on Monday. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a market capitalization of $59.95 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. The business’s fifty day simple moving average is $235.07 and its two-hundred day simple moving average is $228.33. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly 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. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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 2.3%. FedEx’s payout ratio is 33.86%.

FedEx Company 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.