Brandes Investment Partners LP Reduces Holdings in FedEx Corporation $FDX

Brandes Investment Partners LP trimmed its position in shares of FedEx Corporation (NYSE:FDX) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 723,281 shares of the shipping service provider’s stock after selling 5,590 shares during the quarter. FedEx accounts for approximately 1.6% of Brandes Investment Partners LP’s investment portfolio, making the stock its 17th largest position. Brandes Investment Partners LP’s holdings in FedEx were worth $208,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Brighton Jones LLC boosted its stake in FedEx by 12.8% during the fourth 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 period. Empowered Funds LLC boosted its stake in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC purchased a new position in FedEx during the second quarter worth $586,000. Quantbot Technologies LP bought a new stake in shares of FedEx during the second quarter worth $186,000. Finally, Jump Financial LLC purchased a new stake in shares of FedEx during the second quarter valued at $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FDX shares. Jefferies Financial Group boosted their target price on shares of FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Bank of America lowered their target price on shares of FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. HSBC lowered their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Barclays raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. Finally, UBS Group started coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a “buy” rating and a $445.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $372.41.

FedEx Stock Performance

FDX stock opened at $331.79 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a 50-day moving average price of $373.06 and a 200 day moving average price of $341.80. The company has a market capitalization of $79.17 billion, a P/E ratio of 17.66, a PEG ratio of 1.50 and a beta of 1.28. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $341.14.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.51 earnings per share. As a group, equities research analysts forecast that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, June 22nd. FedEx’s payout ratio is presently 30.87%.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
• Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
• Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight

Insider Transactions at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company’s stock.

About FedEx

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.