FedEx Corporation $FDX Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in shares of FedEx Corporation (NYSE:FDX) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,187 shares of the shipping service provider’s stock after buying an additional 1,728 shares during the period. Wealthfront Advisers LLC’s holdings in FedEx were worth $10,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC grew its holdings in shares of FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of FedEx in the 2nd quarter worth approximately $586,000. Quantbot Technologies LP purchased a new position in FedEx in the 2nd quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new position in FedEx in the 2nd quarter valued at approximately $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated 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 in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FDX. Rothschild & Co Redburn decreased their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Bank of America raised their price target on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley boosted their price objective on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Finally, Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Price Performance

FDX stock opened at $313.17 on Friday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock’s 50 day moving average price is $342.12 and its 200 day moving average price is $349.22. The firm has a market cap of $74.72 billion, a P/E ratio of 16.92, a PEG ratio of 1.98 and a beta of 1.29.

FedEx (NYSE:FDX) last released its quarterly 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. The company had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.FedEx’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, sell-side analysts expect that FedEx Corporation will post 14.54 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

FedEx 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.