Family Legacy Inc. Makes New $755,000 Investment in FedEx Corporation $FDX

Family Legacy Inc. acquired a new position in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,410 shares of the shipping service provider’s stock, valued at approximately $755,000.

A number of other large investors have also recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in FedEx in the 1st quarter worth approximately $25,000. Bayban bought a new stake in FedEx during the 1st quarter worth approximately $26,000. EFG International AG purchased a new position in FedEx during the fourth quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new position in FedEx during the third quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter worth approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’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 transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FDX. Truist Financial decreased their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. Jefferies Financial Group started coverage on FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. Weiss Ratings cut FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Finally, Evercore set a $165.00 price target on FedEx in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned 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 $350.54.

FedEx Price Performance

FDX stock opened at $334.56 on Friday. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The firm has a market capitalization of $79.15 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a fifty day simple moving average of $319.39 and a two-hundred day simple moving average of $351.07. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

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.