Hanson & Doremus Investment Management Lowers Holdings in FedEx Corporation $FDX

Hanson & Doremus Investment Management lowered its holdings in FedEx Corporation (NYSE:FDX) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,627 shares of the shipping service provider’s stock after selling 223 shares during the period. Hanson & Doremus Investment Management’s holdings in FedEx were worth $824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aaron Wealth Advisors LLC grew its position in shares of FedEx by 2.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 48 shares during the last quarter. SouthState Corp lifted its stake in FedEx by 3.5% during the first quarter. SouthState Corp now owns 1,431 shares of the shipping service provider’s stock valued at $349,000 after purchasing an additional 48 shares during the last quarter. Benin Management CORP lifted its stake in FedEx by 0.3% during the first quarter. Benin Management CORP now owns 16,198 shares of the shipping service provider’s stock valued at $3,949,000 after purchasing an additional 50 shares during the last quarter. Evanson Asset Management LLC lifted its position in shares of FedEx by 6.0% in the 1st quarter. Evanson Asset Management LLC now owns 879 shares of the shipping service provider’s stock valued at $214,000 after acquiring an additional 50 shares in the last quarter. Finally, Hendershot Investments Inc. lifted its position in shares of FedEx by 4.3% in the 1st quarter. Hendershot Investments Inc. now owns 1,207 shares of the shipping service provider’s stock valued at $294,000 after acquiring an additional 50 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of FedEx from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, September 19th. Raymond James Financial restated an “outperform” rating and set a $255.00 price target on shares of FedEx in a report on Thursday, September 18th. Daiwa Capital Markets upped their price objective on shares of FedEx from $232.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, September 22nd. BMO Capital Markets dropped their price target on shares of FedEx from $260.00 to $255.00 and set a “market perform” rating for the company in a research report on Friday, September 19th. Finally, Truist Financial reissued a “buy” rating and issued a $275.00 price target on shares of FedEx in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.67.

Insider Buying and Selling

In related news, Director R Brad Martin sold 2,123 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares of the company’s stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director directly owned 7,720 shares of the company’s stock, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,343 shares of company stock valued at $2,228,816. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Up 0.6%

FDX stock opened at $237.89 on Monday. The firm has a 50-day moving average of $229.31 and a two-hundred day moving average of $225.90. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73. The company has a market cap of $56.13 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.32 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.12. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $3.60 EPS. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.4%. FedEx’s payout ratio is currently 33.86%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.