State of Michigan Retirement System Purchases 1,400 Shares of FedEx Corporation $FDX

State of Michigan Retirement System increased its position in FedEx Corporation (NYSE:FDX) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,167 shares of the shipping service provider’s stock after buying an additional 1,400 shares during the quarter. State of Michigan Retirement System’s holdings in FedEx were worth $15,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FDX. Brighton Jones LLC lifted its position in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares during the last quarter. Golden State Wealth Management LLC increased its stake in FedEx by 21.1% in the 1st quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider’s stock worth $88,000 after purchasing an additional 63 shares during the period. Teacher Retirement System of Texas increased its stake in FedEx by 221.9% in the 1st quarter. Teacher Retirement System of Texas now owns 44,068 shares of the shipping service provider’s stock worth $10,743,000 after purchasing an additional 30,376 shares during the period. Principal Financial Group Inc. increased its stake in FedEx by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 255,953 shares of the shipping service provider’s stock worth $62,396,000 after purchasing an additional 1,727 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in FedEx by 17.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 4,139 shares of the shipping service provider’s stock worth $1,009,000 after purchasing an additional 602 shares during the period. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FDX shares. UBS Group lifted their price target on FedEx from $293.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. TD Cowen lifted their price target on FedEx from $269.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Susquehanna lifted their price target on FedEx from $285.00 to $300.00 and gave the stock a “positive” rating in a research note on Friday, September 19th. Stifel Nicolaus decreased their price target on FedEx from $308.00 to $296.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Finally, Sanford C. Bernstein lifted their price target on FedEx from $247.00 to $250.00 and gave the stock a “market perform” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $271.83.

FedEx Price Performance

FDX opened at $254.05 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53. The stock has a market capitalization of $59.95 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. The stock’s 50 day moving average price is $235.07 and its 200-day moving average price is $228.33.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.12. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The firm had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 8th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 8th. FedEx’s dividend payout ratio is presently 33.86%.

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.