4,157 Shares of FedEx Corporation $FDX Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC purchased a new position in FedEx Corporation (NYSE:FDX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,157 shares of the shipping service provider’s stock, valued at approximately $1,185,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Putney Financial Group LLC purchased a new stake in FedEx in the third quarter valued at approximately $25,000. Integrity Alliance LLC. raised its stake in FedEx by 18.1% during the third quarter. Integrity Alliance LLC. now owns 7,257 shares of the shipping service provider’s stock worth $2,069,000 after purchasing an additional 1,112 shares during the period. First Nebraska Trust Co purchased a new position in FedEx during the third quarter worth approximately $8,292,000. GRIMES & Co WEALTH MANAGEMENT LLC raised its stake in FedEx by 2.9% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,231 shares of the shipping service provider’s stock worth $351,000 after purchasing an additional 35 shares during the period. Finally, Welch Group LLC boosted its holdings in shares of FedEx by 39.9% in the 3rd quarter. Welch Group LLC now owns 1,087 shares of the shipping service provider’s stock valued at $310,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $329.47 on Thursday. The firm has a fifty day moving average of $303.77 and a 200-day moving average of $337.29. FedEx Corporation has a 52-week low of $200.20 and a 52-week high of $345.36. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $77.16 billion, a P/E ratio of 20.26, a PEG ratio of 1.28 and a beta of 1.27.

FedEx (NYSE:FDX) last posted its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The business had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same quarter in the previous year, the business posted $3.83 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts predict that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 30.01%.

Insider Transactions at FedEx

In other FedEx news, EVP Tracy Brightman sold 26,611 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the transaction, the executive vice president owned 12,245 shares in the company, valued at $3,877,746.60. The trade was a 68.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina Adams sold 3,014 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president directly owned 9,656 shares of the company’s stock, valued at $3,061,531.36. The trade was a 23.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.65% of the company’s stock.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Jim Cramer praised FedEx’s rebound, calling its move “very nice,” adding a favorable public endorsement. Jim Cramer Recommends FedEx
• Positive Sentiment: Citigroup reportedly sees potential for significant appreciation in FDX, reinforcing the positive analyst outlook. Citigroup Forecasts Strong Price Appreciation for FedEx
• Positive Sentiment: FedEx says dedicated logistics teams have helped win contracts serving aerospace and automotive customers, including shipments of aircraft engines and auto parts. Those specialized, potentially higher-value services could support growth beyond traditional parcel delivery. FedEx uses dedicated logistics teams to win aerospace, automotive business
• Positive Sentiment: A report says FedEx’s customer base is shifting and its latest quarter indicates the strategy is working. Separately, its latest results beat estimates: earnings were $3.74 per share versus a $3.34 consensus, while revenue reached $22.93 billion. FedEx CEO is seeing a shift in its customer base
• Positive Sentiment: FedEx plans to extend its Network 2.0 integration to Los Angeles and other markets after completing it in locations including Dallas and San Francisco. The restructuring could improve network efficiency, though the rollout continues into 2027. FedEx Network 2.0 headed to Los Angeles, other markets post-holidays
• Neutral Sentiment: FedEx gained but underperformed some competitors, suggesting its move was not as strong as peers’. FedEx Corp. stock underperforms Wednesday when compared to competitors despite daily gains
• Negative Sentiment: EVP Gina Adams sold 3,014 shares, reducing her direct holdings by about 24%. Insider sales can weigh on sentiment, although the transaction alone does not establish a negative outlook. FedEx insider Gina Adams sells 3,014 shares

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FDX shares. BNP Paribas Exane boosted their price objective on shares of FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. Truist Financial cut their target price on FedEx from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Citizens Jmp started coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target for the company. Citigroup upped their price target on FedEx from $373.00 to $374.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Stephens upgraded FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $359.16.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.