FedEx Corporation $FDX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,495 shares of the shipping service provider’s stock after selling 23,056 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of FedEx worth $196,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Resona Asset Management Co. Ltd. increased its position in FedEx by 1.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 70,378 shares of the shipping service provider’s stock worth $24,887,000 after purchasing an additional 975 shares during the last quarter. Personal CFO Solutions LLC raised its position in FedEx by 19.4% in the first quarter. Personal CFO Solutions LLC now owns 1,381 shares of the shipping service provider’s stock valued at $494,000 after purchasing an additional 224 shares during the period. CFS Investment Advisory Services LLC acquired a new position in FedEx during the 1st quarter worth about $319,000. Sageworth Trust Co acquired a new stake in shares of FedEx during the first quarter worth about $288,000. Finally, Lmcg Investments LLC lifted its holdings in FedEx by 0.7% during the 1st quarter. Lmcg Investments LLC now owns 32,115 shares of the shipping service provider’s stock worth $11,439,000 after buying an additional 208 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price on the stock. Evercore set a $165.00 target price on FedEx in a research note on Friday, June 26th. Finally, UBS Group lowered their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $349.60.

Insider Buying and Selling

In other news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at $4,017,070.44. The trade was a 60.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,146 shares of company stock valued at $19,235,438 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Performance

NYSE:FDX opened at $310.84 on Friday. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm’s fifty day moving average price is $350.10 and its 200 day moving average price is $348.79. The firm has a market cap of $74.17 billion, a price-to-earnings ratio of 16.79 and a beta of 1.29.

FedEx (NYSE:FDX) last announced 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. The firm had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.07 earnings per share. 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. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx was upgraded to strong-buy by Stephens, adding to the bullish analyst tone after Barclays also raised its rating. Zacks report on FedEx upgrade
• Positive Sentiment: The company’s pilots ratified a new contract, easing a key labor concern and reducing uncertainty around operations. Blockonomi article on FedEx stock surge
• Positive Sentiment: FedEx launched a new life sciences division, expanding its healthcare logistics capabilities and potentially opening a higher-margin growth avenue. FreightWaves/Yahoo article on life sciences unit
• Neutral Sentiment: Recent commentary highlighted FedEx’s steadier revenue trend versus UPS, reinforcing the view that its top line is holding up better than some peers. Motley Fool article on FedEx vs UPS revenue trends
• Neutral Sentiment: Industry discussion around higher freight rates and stronger trucking conditions is supportive for logistics names overall, but the impact on FedEx is indirect and not guaranteed. Yahoo Finance freight rates article
• Negative Sentiment: Amazon Shipping is using low pricing and fewer surcharges to attract customers, increasing competitive pressure on FedEx’s parcel and logistics business. Supply Chain Dive article on Amazon Shipping

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.