Counterpoint Mutual Funds LLC Purchases Shares of 2,423 FedEx Corporation $FDX

Counterpoint Mutual Funds LLC purchased a new stake in FedEx Corporation (NYSE:FDX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,423 shares of the shipping service provider’s stock, valued at approximately $863,000.

A number of other hedge funds also recently made changes to their positions in FDX. Bayban bought a new stake in shares of FedEx in the 1st quarter valued at $26,000. EFG International AG bought a new position in FedEx during the fourth quarter worth $27,000. Wealth Watch Advisors INC bought a new position in FedEx during the third quarter worth $28,000. Ameriflex Group Inc. lifted its holdings in FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after buying an additional 63 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new position in FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent analyst reports. UBS Group decreased their price target on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Argus boosted their price objective on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Susquehanna upped their target price on FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research report on Friday, March 20th. Stifel Nicolaus decreased their target price on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Finally, Citigroup lifted their target price on FedEx from $356.73 to $359.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Eighteen 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $349.60.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,146 shares of company stock valued at $19,235,438. 0.53% of the stock is currently owned by insiders.

FedEx Stock Up 0.1%

Shares of NYSE:FDX opened at $313.21 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36. The business’s 50 day simple moving average is $356.40 and its two-hundred day simple moving average is $347.60. The firm has a market cap of $74.73 billion, a P/E ratio of 16.92, a PEG ratio of 1.36 and a beta of 1.29.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS 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 firm had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. During the same quarter in the previous year, the company posted $6.07 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently declared 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. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, June 22nd. FedEx’s payout ratio is 26.36%.

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.