FedEx Corporation $FDX is Staley Capital Advisers Inc.’s 8th Largest Position

Staley Capital Advisers Inc. cut its stake in shares of FedEx Corporation (NYSE:FDX) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,890 shares of the shipping service provider’s stock after selling 8,051 shares during the period. FedEx makes up 3.3% of Staley Capital Advisers Inc.’s holdings, making the stock its 8th biggest holding. Staley Capital Advisers Inc.’s holdings in FedEx were worth $77,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bayban purchased a new position in shares of FedEx during the 1st quarter worth approximately $26,000. EFG International AG purchased a new stake in FedEx in the fourth quarter valued at approximately $27,000. Ulland Investment Advisors LLC acquired a new position in FedEx during the fourth quarter worth $29,000. Tucker Asset Management LLC purchased a new position in shares of FedEx during the fourth quarter worth $29,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of FedEx during the fourth quarter worth $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $310.13 on Thursday. The business’s 50-day moving average is $351.69 and its two-hundred day moving average is $348.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm has a market capitalization of $74.00 billion, a P/E ratio of 16.75 and a beta of 1.29. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36.

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

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s payout ratio is 26.36%.

Insider Buying and Selling

In other news, 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 sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 53,146 shares of company stock worth $19,235,438. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FDX shares. The Goldman Sachs Group decreased their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Wolfe Research dropped their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Bank of America boosted their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Barclays lowered their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, Evercore set a $165.00 target price on shares of FedEx in a research note on Friday, June 26th. Eighteen investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $349.60.

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.