FedEx Corporation $FDX Shares Purchased by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. increased its stake in shares of FedEx Corporation (NYSE:FDX) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,597 shares of the shipping service provider’s stock after acquiring an additional 6,860 shares during the period. Letko Brosseau & Associates Inc.’s holdings in FedEx were worth $64,588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Wealth Watch Advisors INC acquired a new stake in FedEx during the third quarter worth about $28,000. Ameriflex Group Inc. grew its holdings in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the period. Ulland Investment Advisors LLC acquired a new stake in FedEx during the fourth quarter worth about $29,000. Tucker Asset Management LLC acquired a new stake in FedEx during the fourth quarter worth about $29,000. Finally, ORG Partners LLC grew its holdings in FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after acquiring an additional 35 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
• Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
• Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight

Wall Street Analysts Forecast Growth

Several analysts have commented on FDX shares. BNP Paribas Exane dropped their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Morgan Stanley raised their price objective on FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, March 20th. HSBC dropped their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Evercore lowered FedEx from an “outperform” rating to a “cautious” rating in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $372.41.

Insider Transactions at FedEx

In related news, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. The trade was a 60.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company’s stock.

FedEx Trading Up 0.5%

Shares of NYSE FDX opened at $331.79 on Wednesday. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $341.14. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $373.06 and a 200-day simple moving average of $341.80. The stock has a market capitalization of $79.17 billion, a PE ratio of 17.66, a PEG ratio of 1.50 and a beta of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the previous year, the firm posted $4.51 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s payout ratio is presently 30.87%.

FedEx Company 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.