iA Global Asset Management Inc. Buys New Shares in FedEx Corporation $FDX

iA Global Asset Management Inc. bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,925 shares of the shipping service provider’s stock, valued at approximately $686,000.

Several other large investors also recently bought and sold shares of FDX. Franklin Resources Inc. increased its position in shares of FedEx by 5.9% during the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after purchasing an additional 269,567 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in FedEx during the second quarter worth approximately $586,000. CWM LLC increased its position in FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after buying an additional 26,322 shares during the period. Canada Post Corp Registered Pension Plan lifted its stake in FedEx by 85.9% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after buying an additional 3,138 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after acquiring an additional 6,864 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: The $1.4 billion sale of FedEx Supply Chain could help streamline operations, sharpen focus on core shipping services, and provide cash that may support margins or shareholder returns. FedEx strikes $1.4bn deal to sell logistics unit to CMA CGM
• Positive Sentiment: Goldman Sachs initiated coverage of newly spun-off FedEx Freight with a Buy rating, citing potential margin expansion and improved profitability, which could support broader investor sentiment toward the FedEx restructuring story. Goldman Sachs initiates FedEx Freight with Buy, sees 23% margin expansion upside
• Neutral Sentiment: News that CMA CGM hired a former FedEx logistics executive adds context to the deal but is not likely to materially change the near-term thesis by itself. CMA CGM hires FedEx executive Moebel to lead Ceva Logistics
• Negative Sentiment: Seeking Alpha published a cautious view arguing the bullish case for FedEx depends on a margin recovery that is not yet visible, reinforcing concerns that cost cuts may not fully offset soft demand. FedEx: The Bull Case Relies On A Margin Recovery That Isn’t Visible Yet
• Negative Sentiment: Director Paul S. Walsh sold 5,042 shares, which can signal reduced insider confidence even though the sale was relatively small compared with his remaining holdings. SEC insider transaction filing

Analyst Ratings Changes

FDX has been the subject of several research reports. HSBC reduced their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Barclays dropped their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Stephens reiterated an “overweight” rating and set a $435.00 target price on shares of FedEx in a research note on Tuesday, April 14th. Bank of America raised their price target on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Truist Financial dropped their price target on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $349.60.

FedEx Price Performance

FedEx stock opened at $313.21 on Friday. The firm has a market capitalization of $74.73 billion, a PE ratio of 16.92, a P/E/G 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 firm’s 50-day simple moving average is $357.86 and its 200 day simple moving average is $347.84. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

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 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 company had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter in the previous year, the business posted $6.07 earnings per share. The firm’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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio is presently 26.36%.

Insiders Place Their Bets

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is owned by company insiders.

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.