Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in FedEx Corporation $FDX

Sumitomo Mitsui Trust Group Inc. reduced its position in FedEx Corporation (NYSE:FDX) by 4.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 550,495 shares of the shipping service provider’s stock after selling 23,056 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FedEx were worth $196,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Bayban purchased a new position in FedEx in the first quarter valued at about $26,000. EFG International AG purchased a new stake in shares of FedEx in the fourth quarter worth about $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx in the third quarter worth about $28,000. Ameriflex Group Inc. grew its stake in shares of FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter valued at about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is currently owned by company insiders.

FedEx Trading Up 0.3%

NYSE FDX opened at $310.84 on Friday. The firm’s 50 day moving average price is $350.10 and its two-hundred day moving average price is $348.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The stock has a market cap of $74.17 billion, a price-to-earnings ratio of 16.79 and a beta of 1.29.

FedEx (NYSE:FDX) last issued its 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. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter last year, the firm posted $6.07 earnings per share. FedEx’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.

FedEx Cuts Dividend

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

Key Stories Impacting FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx was upgraded to strong-buy by Stephens, adding to the bullish analyst tone after Barclays also raised its rating. Zacks report on FedEx upgrade
• Positive Sentiment: The company’s pilots ratified a new contract, easing a key labor concern and reducing uncertainty around operations. Blockonomi article on FedEx stock surge
• Positive Sentiment: FedEx launched a new life sciences division, expanding its healthcare logistics capabilities and potentially opening a higher-margin growth avenue. FreightWaves/Yahoo article on life sciences unit
• Neutral Sentiment: Recent commentary highlighted FedEx’s steadier revenue trend versus UPS, reinforcing the view that its top line is holding up better than some peers. Motley Fool article on FedEx vs UPS revenue trends
• Neutral Sentiment: Industry discussion around higher freight rates and stronger trucking conditions is supportive for logistics names overall, but the impact on FedEx is indirect and not guaranteed. Yahoo Finance freight rates article
• Negative Sentiment: Amazon Shipping is using low pricing and fewer surcharges to attract customers, increasing competitive pressure on FedEx’s parcel and logistics business. Supply Chain Dive article on Amazon Shipping

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Citigroup boosted their price target on shares of FedEx from $356.73 to $359.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $349.60.

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.