Fideuram Intesa Sanpaolo Private Banking S.P.A. Boosts Stock Holdings in FedEx Corporation $FDX

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 72.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,793 shares of the shipping service provider’s stock after purchasing an additional 6,215 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in FedEx were worth $5,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Norges Bank purchased a new position in shares of FedEx in the 4th quarter worth $859,085,000. Boston Partners acquired a new stake in shares of FedEx in the third quarter worth $468,195,000. Dodge & Cox raised its stake in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. AQR Capital Management LLC lifted its holdings in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after acquiring an additional 1,718,278 shares in the last quarter. Finally, Waddell & Associates LLC raised its position in FedEx by 164.0% in the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after purchasing an additional 738,122 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 0.1%

Shares of NYSE FDX opened at $313.21 on Friday. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The stock’s 50 day simple moving average is $356.40 and its 200 day simple moving average is $347.60.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. The company had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s dividend payout ratio is 26.36%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FDX shares. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. BNP Paribas Exane decreased their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Sanford C. Bernstein set a $397.00 target price on FedEx in a research note on Wednesday, June 24th. Wolfe Research dropped their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Argus boosted their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $349.60.

Insider Transactions at FedEx

In related 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 sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,146 shares of company stock worth $19,235,438 over the last quarter. Insiders own 0.53% of the company’s stock.

FedEx Company 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.