Twin Capital Management Inc. Purchases 3,955 Shares of FedEx Corporation $FDX

Twin Capital Management Inc. raised its holdings in FedEx Corporation (NYSE:FDX) by 205.6% during the first quarter, HoldingsChannel reports. The firm owned 5,879 shares of the shipping service provider’s stock after acquiring an additional 3,955 shares during the quarter. Twin Capital Management Inc.’s holdings in FedEx were worth $2,094,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after purchasing an additional 382,848 shares in the last quarter. Franklin Resources Inc. boosted its position in FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after buying an additional 318,293 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after acquiring an additional 45,818 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after acquiring an additional 108,426 shares in the last quarter. Finally, Norges Bank bought a new stake in FedEx during the 4th quarter worth $859,085,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. Truist Financial decreased their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Citizens Jmp started coverage on FedEx in a research report on Wednesday. They issued a “market outperform” rating and a $375.00 price target on the stock. BNP Paribas Exane decreased their target price 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. Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Susquehanna upped their price objective on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research note on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

FedEx Trading Down 0.0%

NYSE FDX opened at $313.52 on Thursday. The firm has a market capitalization of $74.81 billion, a P/E ratio of 16.94 and a beta of 1.29. The business has a fifty day simple moving average of $344.56 and a 200 day simple moving average of $349.32. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

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 the consensus estimate of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same quarter in the previous year, the firm posted $6.07 earnings per share. The company’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 firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

FedEx 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.