Miller Howard Investments Inc. NY Purchases New Position in FedEx Corporation $FDX

Miller Howard Investments Inc. NY acquired a new position in FedEx Corporation (NYSE:FDX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,017 shares of the shipping service provider’s stock, valued at approximately $6,417,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Weaver Capital Management LLC purchased a new stake in FedEx during the 1st quarter valued at $211,000. CENTRAL TRUST Co raised its stake in shares of FedEx by 15.5% in the first quarter. CENTRAL TRUST Co now owns 5,867 shares of the shipping service provider’s stock worth $2,090,000 after purchasing an additional 786 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of FedEx during the first quarter valued at $205,000. Cidel Asset Management Inc. lifted its holdings in shares of FedEx by 13.9% during the first quarter. Cidel Asset Management Inc. now owns 3,664 shares of the shipping service provider’s stock valued at $1,305,000 after purchasing an additional 446 shares in the last quarter. Finally, Legacy Wealth Partners LLC purchased a new stake in shares of FedEx during the first quarter valued at $232,000. 84.47% of the stock is owned by institutional investors.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx beat fiscal Q4 earnings and revenue estimates, with EPS of $6.31 to $6.60 and revenue around $25.0 billion, helped by stronger package yields and volume. FedEx Reports Strong Fourth Quarter and Full-Year Results
• Positive Sentiment: Operating cash flow improved sharply, suggesting better cash generation and supporting the company’s cost-cutting and post-spin-off restructuring plan. FedEx Revenue Rises on Growth in Package Yields, Volume
• Neutral Sentiment: Management said the growth strategy is working and highlighted the impact of the FedEx Freight spin-off on network optimization and cost reductions. FedEx posts strong earnings results in last quarter with freight business
• Negative Sentiment: Despite the quarterly beat, shares fell because fiscal 2027 EPS guidance of $16.90 to $18.10 came in below Wall Street expectations, raising concern that profit growth may slow. FedEx shares drop on weak profit forecast as Q4 results top estimates
• Negative Sentiment: FedEx also traded against a broader risk-off market backdrop, with tech weakness and weaker futures adding pressure to sentiment around the stock. Dow Jones Futures: Nasdaq Breaks Support; FedEx, Cerebras Tumble Late With Micron Due

FedEx Stock Performance

FDX opened at $319.06 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The company has a market cap of $76.13 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.49 and a beta of 1.28. The company’s 50 day moving average is $366.57 and its 200 day moving average is $345.88. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $0.40. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same period in the previous year, the business posted $6.07 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.78 EPS for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio is 25.97%.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,104 shares of company stock valued at $17,599,006. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FDX. Jefferies Financial Group started coverage on FedEx in a research report on Tuesday. They issued a “buy” rating and a $200.00 target price for the company. Wolfe Research reduced their price target on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Citigroup assumed coverage on shares of FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $358.14.

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.