Rhumbline Advisers Lowers Stock Position in FedEx Corporation $FDX

Rhumbline Advisers decreased its position in FedEx Corporation (NYSE:FDX) by 2.8% in the second quarter, Holdings Channel reports. The institutional investor owned 410,924 shares of the shipping service provider’s stock after selling 11,907 shares during the period. Rhumbline Advisers’ holdings in FedEx were worth $93,407,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FDX. NewSquare Capital LLC increased its stake in shares of FedEx by 121.8% in the 2nd quarter. NewSquare Capital LLC now owns 122 shares of the shipping service provider’s stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of FedEx in the first quarter valued at approximately $43,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of FedEx by 60.7% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock worth $46,000 after buying an additional 71 shares during the period. Motco grew its stake in FedEx by 61.8% in the 1st quarter. Motco now owns 267 shares of the shipping service provider’s stock valued at $65,000 after acquiring an additional 102 shares during the period. Finally, Rise Advisors LLC increased its holdings in FedEx by 21.0% in the 1st quarter. Rise Advisors LLC now owns 340 shares of the shipping service provider’s stock worth $83,000 after acquiring an additional 59 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 2.5%

Shares of FDX stock opened at $269.55 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The company’s 50-day moving average price is $245.20 and its 200-day moving average price is $233.55. The stock has a market cap of $63.60 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.40 and a beta of 1.31.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. FedEx’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. As a group, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, December 15th. FedEx’s payout ratio is 33.86%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FDX. Truist Financial set a $285.00 target price on shares of FedEx in a research report on Tuesday, October 14th. Citigroup lifted their price objective on FedEx from $279.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. HSBC increased their target price on FedEx from $230.00 to $235.00 in a report on Friday, September 19th. Bank of America raised their price objective on FedEx from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, BMO Capital Markets lowered their price target on shares of FedEx from $260.00 to $255.00 and set a “market perform” rating on the stock in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $276.13.

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.