Principal Financial Group Inc. Has $90.15 Million Stake in FedEx Corporation $FDX

Principal Financial Group Inc. lifted its holdings in shares of FedEx Corporation (NYSE:FDX) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 253,109 shares of the shipping service provider’s stock after acquiring an additional 12,442 shares during the quarter. Principal Financial Group Inc.’s holdings in FedEx were worth $90,152,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bayban bought a new stake in FedEx in the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC increased its holdings in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the last quarter. EFG International AG acquired a new position in shares of FedEx in the fourth quarter valued at $27,000. Ulland Investment Advisors LLC bought a new position in shares of FedEx in the fourth quarter valued at about $29,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter valued at about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. restated a “buy” rating on shares of FedEx in a report on Friday, June 26th. Argus upped their target price on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Finally, Rothschild & Co Redburn dropped their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Price Performance

FDX stock opened at $313.52 on Thursday. The company’s 50-day moving average price is $344.56 and its two-hundred day moving average price is $349.32. The firm has a market cap of $74.81 billion, a P/E ratio of 16.94 and a beta of 1.29. 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 Corporation has a 12 month low of $172.88 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly 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 return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same quarter last year, the company posted $6.07 EPS. The company’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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders 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 payout ratio is currently 26.36%.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the 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 transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This 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 can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

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.