Spartan Wealth Advisory Services LLC Purchases New Stake in FedEx Corporation $FDX

Spartan Wealth Advisory Services LLC acquired a new position in FedEx Corporation (NYSE:FDX) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 9,627 shares of the shipping service provider’s stock, valued at approximately $3,429,000.

Other institutional investors have also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in shares of FedEx during the first quarter worth approximately $1,195,000. Freemont Management S.A. acquired a new position in FedEx in the 1st quarter valued at approximately $2,458,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after buying an additional 30 shares during the period. German American Bancorp Inc. lifted its position in FedEx by 1.0% in the 1st quarter. German American Bancorp Inc. now owns 27,170 shares of the shipping service provider’s stock worth $9,677,000 after buying an additional 270 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in FedEx by 13.5% in the 1st quarter. California Public Employees Retirement System now owns 453,329 shares of the shipping service provider’s stock worth $161,467,000 after buying an additional 54,007 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 1.6%

Shares of NYSE:FDX opened at $313.17 on Friday. The stock has a market capitalization of $74.72 billion, a PE ratio of 16.92, a P/E/G ratio of 1.95 and a beta of 1.29. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm has a fifty day moving average price of $342.12 and a 200 day moving average price of $349.22. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same period last year, the company earned $6.07 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. 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 dividend payout ratio (DPR) is presently 26.36%.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FDX. Truist Financial lowered their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Rothschild & Co Redburn cut their price objective on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Bank of America lifted their price objective on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Stifel Nicolaus lowered their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, TD Cowen dropped their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. One 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 company. Based on data from MarketBeat, FedEx 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.