QRG Capital Management Inc. Has $9.59 Million Stock Position in FedEx Corporation $FDX

QRG Capital Management Inc. grew its stake in FedEx Corporation (NYSE:FDX) by 67.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,934 shares of the shipping service provider’s stock after purchasing an additional 10,866 shares during the period. QRG Capital Management Inc.’s holdings in FedEx were worth $9,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in FedEx in the 1st quarter valued at $863,000. Investors Asset Management of Georgia Inc. GA ADV raised its stake in FedEx by 11.7% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 954 shares of the shipping service provider’s stock worth $340,000 after acquiring an additional 100 shares in the last quarter. Baer Investment Advisory LLC acquired a new position in FedEx during the first quarter worth $222,000. World Investment Advisors lifted its holdings in shares of FedEx by 1.8% during the first quarter. World Investment Advisors now owns 10,245 shares of the shipping service provider’s stock valued at $3,649,000 after acquiring an additional 185 shares during the period. Finally, First Dallas Securities Inc. boosted its stake in shares of FedEx by 1.6% in the 1st quarter. First Dallas Securities Inc. now owns 3,110 shares of the shipping service provider’s stock valued at $1,108,000 after purchasing an additional 50 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE:FDX opened at $313.21 on Friday. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a market cap of $74.73 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The business has a fifty day moving average of $356.40 and a 200-day moving average of $347.60.

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

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s payout ratio is currently 26.36%.

Insider Activity at FedEx

In other news, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,146 shares of company stock valued at $19,235,438 in the last three months. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FDX shares. Susquehanna upped their target price on shares of FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a report on Friday, March 20th. Evercore set a $165.00 price target on shares of FedEx in a report on Friday, June 26th. Wells Fargo & Company reduced their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Seaport Research Partners began coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $349.60.

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.