Illinois Municipal Retirement Fund Sells 2,346 Shares of FedEx Corporation $FDX

Illinois Municipal Retirement Fund lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 68,416 shares of the shipping service provider’s stock after selling 2,346 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FedEx were worth $24,368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bayban bought a new stake in shares of FedEx during the first quarter worth approximately $26,000. EFG International AG bought a new position in shares of FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC bought a new position in shares of FedEx during the third quarter worth approximately $28,000. Ulland Investment Advisors LLC acquired a new stake in FedEx during the 4th quarter worth approximately $29,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

FedEx Stock Down 0.0%

FDX stock opened at $313.52 on Thursday. The firm has a 50-day moving average price of $344.56 and a 200-day moving average price 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. The stock has a market capitalization of $74.81 billion, a P/E ratio of 16.94 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FDX. Wells Fargo & Company decreased their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Seaport Research Partners began coverage on FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. Barclays cut their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Rothschild & Co Redburn cut their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Citizens Jmp initiated coverage on shares of FedEx in a research report on Wednesday. They set a “market outperform” rating and a $375.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

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.