FedEx Corporation $FDX Stock Holdings Lessened by Horrell Capital Management Inc.

Horrell Capital Management Inc. reduced its position in FedEx Corporation (NYSE:FDX) by 8.2% in the first quarter, Holdings Channel.com reports. The fund owned 22,355 shares of the shipping service provider’s stock after selling 1,993 shares during the quarter. FedEx makes up about 3.6% of Horrell Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Horrell Capital Management Inc.’s holdings in FedEx were worth $7,962,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FDX. Dodge & Cox lifted its stake in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. State Street Corp grew its position in shares of FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after purchasing an additional 382,848 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares during the period. Geode Capital Management LLC increased its holdings in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after purchasing an additional 45,818 shares during the period. Finally, Invesco Ltd. raised its position in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after buying an additional 108,426 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. The Goldman Sachs Group dropped their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. BNP Paribas Exane cut their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.60.

Insider Buying and Selling

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,146 shares of company stock worth $19,235,438 over the last 90 days. Insiders own 0.53% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $310.84 on Friday. The company has a market capitalization of $74.17 billion, a price-to-earnings ratio of 16.79 and a beta of 1.29. The business has a 50 day moving average of $350.10 and a 200 day moving average of $348.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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 business had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 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

About FedEx

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.