FedEx Corporation $FDX Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System grew its stake in shares of FedEx Corporation (NYSE:FDX) by 6.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 209,112 shares of the shipping service provider’s stock after acquiring an additional 11,876 shares during the period. New York State Teachers Retirement System’s holdings in FedEx were worth $74,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Bayban acquired a new stake in shares of FedEx in the first quarter valued at about $26,000. EFG International AG purchased a new stake in FedEx during the fourth quarter worth about $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the third quarter valued at about $28,000. Ameriflex Group Inc. lifted its position in shares of FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after acquiring an additional 63 shares during the period. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FDX shares. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Bank of America raised their target price on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $349.60.

FedEx Price Performance

Shares of NYSE:FDX opened at $313.21 on Friday. The company has a market cap of $74.73 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29. The business has a fifty day simple moving average of $357.86 and a 200-day simple moving average of $347.84. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. During the same period in the prior year, the business posted $6.07 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

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 issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: The $1.4 billion sale of FedEx Supply Chain could help streamline operations, sharpen focus on core shipping services, and provide cash that may support margins or shareholder returns. FedEx strikes $1.4bn deal to sell logistics unit to CMA CGM
• Positive Sentiment: Goldman Sachs initiated coverage of newly spun-off FedEx Freight with a Buy rating, citing potential margin expansion and improved profitability, which could support broader investor sentiment toward the FedEx restructuring story. Goldman Sachs initiates FedEx Freight with Buy, sees 23% margin expansion upside
• Neutral Sentiment: News that CMA CGM hired a former FedEx logistics executive adds context to the deal but is not likely to materially change the near-term thesis by itself. CMA CGM hires FedEx executive Moebel to lead Ceva Logistics
• Negative Sentiment: Seeking Alpha published a cautious view arguing the bullish case for FedEx depends on a margin recovery that is not yet visible, reinforcing concerns that cost cuts may not fully offset soft demand. FedEx: The Bull Case Relies On A Margin Recovery That Isn’t Visible Yet
• Negative Sentiment: Director Paul S. Walsh sold 5,042 shares, which can signal reduced insider confidence even though the sale was relatively small compared with his remaining holdings. SEC insider transaction filing

Insider Buying and Selling at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is currently owned by insiders.

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.