Diversify Wealth Management LLC Makes New $1.16 Million Investment in FedEx Corporation $FDX

Diversify Wealth Management LLC purchased a new stake in FedEx Corporation (NYSE:FDX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,989 shares of the shipping service provider’s stock, valued at approximately $1,161,000.

Several other hedge funds have also recently modified their holdings of the business. Bayban bought a new position in shares of FedEx in the 1st quarter worth $26,000. EFG International AG bought a new stake in FedEx during the fourth quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the third quarter valued at about $28,000. Ulland Investment Advisors LLC purchased a new position in FedEx in the fourth quarter valued at about $29,000. Finally, Tucker Asset Management LLC bought a new position in FedEx in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

FedEx Trading Down 0.0%

Shares of FedEx stock opened at $313.52 on Thursday. The firm’s 50 day simple moving average is $344.56 and its two-hundred day simple moving average is $349.32. The firm has a market capitalization of $74.81 billion, a price-to-earnings ratio of 16.94 and a beta of 1.29. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share 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 for the quarter, compared to analyst estimates of $24.04 billion. During the same period in the previous year, the company earned $6.07 earnings per share. The business’s quarterly revenue 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 disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. Wolfe Research lowered their price target on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Citigroup started coverage on shares of FedEx in a research note on Wednesday. They set an “outperform” rating for the company. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Jefferies Financial Group assumed coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price for the company. Finally, Susquehanna lifted their price target on shares of FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

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.