Commerzbank Aktiengesellschaft FI Sells 23,490 Shares of FedEx Corporation $FDX

Commerzbank Aktiengesellschaft FI lowered its stake in FedEx Corporation (NYSE:FDX) by 52.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,708 shares of the shipping service provider’s stock after selling 23,490 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in FedEx were worth $7,732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares during the last quarter. Franklin Resources Inc. increased its stake in FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after acquiring an additional 318,293 shares during the last quarter. Geode Capital Management LLC increased its stake in FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after acquiring an additional 45,818 shares during the last quarter. Invesco Ltd. raised its holdings in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after acquiring an additional 108,426 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of FedEx during the 4th quarter worth approximately $859,085,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

FedEx Stock Down 2.2%

Shares of FDX opened at $306.08 on Tuesday. 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 $340.67 and a 200 day moving average of $349.72. The company has a market cap of $73.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.61 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 data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter in the previous year, the business posted $6.07 earnings per share. The business’s 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, sell-side analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is 26.36%.

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. UBS Group cut 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. Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. BNP Paribas Exane lowered their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Citigroup started coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group assumed coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.