Eastern Bank Trims Holdings in FedEx Corporation $FDX

Eastern Bank cut its stake in shares of FedEx Corporation (NYSE:FDX) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 756 shares of the shipping service provider’s stock after selling 201 shares during the quarter. Eastern Bank’s holdings in FedEx were worth $172,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC lifted its position in shares of FedEx by 2.6% in the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $457,000 after buying an additional 48 shares during the last quarter. SouthState Corp lifted its holdings in FedEx by 3.5% in the 1st quarter. SouthState Corp now owns 1,431 shares of the shipping service provider’s stock worth $349,000 after purchasing an additional 48 shares during the last quarter. Evanson Asset Management LLC lifted its holdings in FedEx by 6.0% in the 1st quarter. Evanson Asset Management LLC now owns 879 shares of the shipping service provider’s stock worth $214,000 after purchasing an additional 50 shares during the last quarter. Hendershot Investments Inc. lifted its holdings in FedEx by 4.3% in the 1st quarter. Hendershot Investments Inc. now owns 1,207 shares of the shipping service provider’s stock worth $294,000 after purchasing an additional 50 shares during the last quarter. Finally, Loudon Investment Management LLC lifted its holdings in FedEx by 5.0% in the 2nd quarter. Loudon Investment Management LLC now owns 1,050 shares of the shipping service provider’s stock worth $239,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of FedEx from $247.00 to $250.00 and gave the stock a “market perform” rating in a research note on Monday, September 22nd. TD Cowen boosted their target price on shares of FedEx from $269.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. BMO Capital Markets cut their price objective on FedEx from $260.00 to $255.00 and set a “market perform” rating for the company in a research report on Friday, September 19th. UBS Group boosted their price objective on FedEx from $293.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Stifel Nicolaus cut their price objective on shares of FedEx from $308.00 to $296.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $273.08.

FedEx Trading Down 5.0%

FDX stock opened at $225.14 on Monday. The business has a fifty day moving average price of $230.78 and a 200 day moving average price of $225.64. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The stock has a market capitalization of $53.12 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.25 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.12. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same period last year, the company posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 8th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.6%. FedEx’s dividend payout ratio (DPR) is currently 33.86%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.