Swiss National Bank Grows Position in FedEx Corporation $FDX

Swiss National Bank lifted its position in shares of FedEx Corporation (NYSE:FDX) by 6.7% during the first quarter, Holdings Channel.com reports. The firm owned 655,600 shares of the shipping service provider’s stock after acquiring an additional 41,400 shares during the period. Swiss National Bank’s holdings in FedEx were worth $233,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FDX. Bayban purchased a new stake in FedEx during the first quarter worth $26,000. EFG International AG purchased a new position in FedEx in the fourth quarter valued at $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the third quarter valued at $28,000. Ulland Investment Advisors LLC acquired a new position in shares of FedEx in the fourth quarter worth about $29,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the fourth quarter worth about $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, 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 SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.

FedEx Stock Up 0.1%

FDX stock opened at $313.17 on Monday. The stock has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. The firm has a 50-day simple moving average of $342.12 and a 200-day simple moving average of $349.62. 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 52 week low of $172.88 and a 52 week 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 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 firm had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same period last year, the company posted $6.07 EPS. FedEx’s quarterly 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. Equities analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued 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 is presently 26.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Evercore set a $165.00 price target on FedEx in a report on Friday, June 26th. Truist Financial dropped their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. UBS Group cut their price objective on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Argus upped their target price on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. One equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

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.