ACR Alpine Capital Research LLC Has $400.23 Million Position in FedEx Corporation $FDX

ACR Alpine Capital Research LLC trimmed its stake in shares of FedEx Corporation (NYSE:FDX) by 35.4% during the first quarter, HoldingsChannel reports. The fund owned 1,123,684 shares of the shipping service provider’s stock after selling 616,950 shares during the period. FedEx comprises about 6.0% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 7th largest position. ACR Alpine Capital Research LLC’s holdings in FedEx were worth $400,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Dodge & Cox raised its position in 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 grew its stake in shares of FedEx by 4.2% during the 4th 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 in the last quarter. Franklin Resources Inc. raised its holdings 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 valued at $1,482,785,000 after purchasing an additional 318,293 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx announced pricing for cash tender offers to repurchase up to $4.15 billion of debt, a move that can lower future interest expense and improve its balance sheet after the planned FedEx Freight spin-off. FedEx Announces Pricing for Cash Tender Offers
• Positive Sentiment: FedEx also reported early tender results for the debt offers, signaling active participation and progress on its capital-structure reshaping plan. FedEx Announces Early Tender Results of Previously Announced Cash Tender Offers
• Positive Sentiment: Analyst sentiment improved, with Stephens upgrading FedEx to “strong-buy” after earlier bullish commentary, which can help reinforce investor confidence in the stock. Zacks.com
• Positive Sentiment: Reports highlighted FedEx’s new life sciences division and ongoing efforts to expand healthcare logistics, suggesting a higher-margin growth opportunity for the company. New FedEx life sciences unit integrates healthcare logistics capabilities
• Neutral Sentiment: Some articles argued the stock may still be undervalued after its strong run, indicating upside potential but not an immediate catalyst. FedEx (FDX) Stock Looks Undervalued Even After A 65% Run
• Negative Sentiment: Investor concerns persist around Amazon’s low-cost logistics expansion, which could pressure FedEx pricing and market share over time. FedEx Reshapes Debt After FedEx Freight Spin-Off

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,146 shares of company stock valued at $19,235,438 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Wolfe Research decreased their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Raymond James Financial reduced their price objective on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. Truist Financial decreased their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Weiss Ratings downgraded FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $349.60.

FedEx Stock Performance

NYSE FDX opened at $314.49 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average price is $348.63 and its two-hundred day moving average price is $348.55. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm has a market capitalization of $75.04 billion, a P/E ratio of 16.99 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter last year, the company posted $6.07 earnings per share. The company’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 company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 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.