Elevation Point Wealth Partners LLC Has $2.47 Million Holdings in FedEx Corporation $FDX

Elevation Point Wealth Partners LLC boosted its stake in FedEx Corporation (NYSE:FDX) by 103.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,905 shares of the shipping service provider’s stock after purchasing an additional 3,509 shares during the period. Elevation Point Wealth Partners LLC’s holdings in FedEx were worth $2,466,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dodge & Cox grew its position in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after buying an additional 1,742,666 shares during the last quarter. State Street Corp raised its position in shares of FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after acquiring an additional 318,293 shares during the period. Geode Capital Management LLC lifted its stake in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after acquiring an additional 45,818 shares during the period. Finally, Invesco Ltd. boosted its holdings in FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after acquiring an additional 108,426 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. Argus increased their target price on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Morgan Stanley upped their price objective on shares of FedEx from $220.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, March 20th. Stephens reiterated an “overweight” rating and set a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $349.60.

Insider Activity

In related news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. The trade was a 36.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 53,146 shares of company stock valued at $19,235,438. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $313.21 on Friday. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $356.40 and a 200-day moving average of $347.60.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same quarter in the previous year, the business posted $6.07 EPS. FedEx’s revenue for the quarter was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business 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 $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend 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.