Legacy Trust Sells 246 Shares of FedEx Corporation $FDX

Legacy Trust decreased its stake in shares of FedEx Corporation (NYSE:FDX) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,285 shares of the shipping service provider’s stock after selling 246 shares during the period. Legacy Trust’s holdings in FedEx were worth $519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in FedEx during the first quarter valued at approximately $38,000. WPG Advisers LLC bought a new position in FedEx during the first quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC lifted its position in FedEx by 60.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock valued at $46,000 after purchasing an additional 71 shares during the period. SOA Wealth Advisors LLC. lifted its position in FedEx by 60.6% during the first quarter. SOA Wealth Advisors LLC. now owns 249 shares of the shipping service provider’s stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in FedEx during the first quarter valued at approximately $65,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $244.14 on Friday. The firm has a fifty day moving average price of $229.77 and a 200-day moving average price of $225.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. The stock has a market cap of $57.61 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.12. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Equities analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were paid a $1.45 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.4%. FedEx’s dividend payout ratio is 33.86%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FDX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FedEx in a report on Saturday, September 27th. Dbs Bank raised shares of FedEx from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 21st. Wall Street Zen cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup upped their target price on shares of FedEx from $275.00 to $279.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.67.

Insider Transactions at FedEx

In related news, Director R Brad Martin sold 2,123 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares of the company’s stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 over the last three months. Corporate insiders own 0.53% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.