SCS Capital Management LLC Buys Shares of 47,408 FedEx Corporation $FDX

SCS Capital Management LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,408 shares of the shipping service provider’s stock, valued at approximately $14,892,000.

Several other large investors also recently modified their holdings of FDX. Hollencrest Capital Management purchased a new position in FedEx in the first quarter valued at approximately $25,000. Bayban purchased a new stake in FedEx in the first quarter worth $26,000. EFG International AG purchased a new stake in FedEx in the fourth quarter worth $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx in the third quarter worth $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of FedEx in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Key Headlines Impacting 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

FedEx Price Performance

FedEx stock opened at $334.56 on Monday. The firm has a market capitalization of $79.15 billion, a P/E ratio of 18.07, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The business has a fifty day moving average price of $319.39 and a 200-day moving average price of $351.40.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FDX. The Goldman Sachs Group dropped their price target on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Wells Fargo & Company lowered their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Citizens Jmp began coverage on FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. Finally, Seaport Research Partners assumed coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

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.