Aviance Capital Partners LLC Sells 6,426 Shares of FedEx Corporation $FDX

Aviance Capital Partners LLC trimmed its position in FedEx Corporation (NYSE:FDX) by 67.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the shipping service provider’s stock after selling 6,426 shares during the quarter. Aviance Capital Partners LLC’s holdings in FedEx were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayban bought a new stake in FedEx in the 1st quarter worth $26,000. EFG International AG purchased a new position in shares of FedEx in the fourth quarter valued at about $27,000. Wealth Watch Advisors INC bought a new position in shares of FedEx during the third quarter valued at about $28,000. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter valued at about $29,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 0.1%

FDX stock opened at $313.17 on Monday. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The business’s 50 day moving average price is $342.12 and its two-hundred day moving average price is $349.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market capitalization of $74.72 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.40. The firm had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Bank of America increased their price objective on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Wells Fargo & Company reduced their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Citigroup assumed coverage on shares of FedEx in a report on Wednesday. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

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.