Capital Research Global Investors Sells 77,588 Shares of FedEx Corporation $FDX

Capital Research Global Investors lessened its holdings in FedEx Corporation (NYSE:FDX) by 43.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,489 shares of the shipping service provider’s stock after selling 77,588 shares during the quarter. Capital Research Global Investors’ holdings in FedEx were worth $29,316,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. OneAscent Financial Services LLC boosted its position in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after acquiring an additional 29 shares during the period. LRI Investments LLC lifted its position in FedEx by 5.2% during the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock worth $183,000 after purchasing an additional 31 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in FedEx by 11.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock worth $84,000 after purchasing an additional 31 shares during the period. Legacy Bridge LLC lifted its position in FedEx by 33.0% during the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock worth $38,000 after purchasing an additional 33 shares during the period. Finally, True Wealth Design LLC lifted its position in FedEx by 8.2% during the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider’s stock worth $133,000 after purchasing an additional 35 shares during the period. Institutional investors own 84.47% of the company’s stock.

More FedEx News

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

Insiders Place Their Bets

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 in the last ninety days. Insiders own 0.53% of the company’s stock.

FedEx Stock Up 0.5%

Shares of NYSE FDX opened at $331.79 on Wednesday. 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 company has a market cap of $79.17 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.50 and a beta of 1.28. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $341.14. The stock has a 50-day moving average price of $373.06 and a two-hundred day moving average price of $341.80.

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

FedEx Cuts Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on FDX. Citigroup began coverage on shares of FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Truist Financial set a $155.00 price objective on shares of FedEx in a research report on Tuesday, June 2nd. HSBC cut their price objective on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Finally, Seaport Research Partners began coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $372.41.

About FedEx

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.