Diversify Wealth Management LLC Makes New Investment in FedEx Corporation $FDX

Diversify Wealth Management LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the first quarter, Holdings Channel.com reports. The firm acquired 2,989 shares of the shipping service provider’s stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Brighton Jones LLC grew its holdings in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC raised its position in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in FedEx in the second quarter valued at approximately $586,000. Quantbot Technologies LP acquired a new position in FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new stake in FedEx during the second quarter worth $456,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.0%

Shares of NYSE:FDX opened at $313.52 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average of $344.56 and a two-hundred day moving average of $349.32. The stock has a market cap of $74.81 billion, a P/E ratio of 16.94 and a beta of 1.29. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36.

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

FedEx Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FDX shares. Sanford C. Bernstein set a $397.00 price target on FedEx in a research report on Wednesday, June 24th. TD Cowen reduced their target price on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Stifel Nicolaus lowered their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Citizens Jmp assumed coverage on shares of FedEx in a report on Wednesday. They set a “market outperform” rating and a $375.00 target price for the company. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

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.