Mitchell Mcleod Pugh & Williams Inc. Cuts Holdings in FedEx Corporation $FDX

Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 4.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,303 shares of the shipping service provider’s stock after selling 110 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in FedEx were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Abound Financial LLC purchased a new position in shares of FedEx during the 1st quarter worth approximately $38,000. WPG Advisers LLC purchased a new position in shares of FedEx during the 1st quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC increased its stake in FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock valued at $46,000 after purchasing an additional 71 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in FedEx in the 1st quarter valued at approximately $65,000. Finally, Motco increased its stake in FedEx by 61.8% in the 1st quarter. Motco now owns 267 shares of the shipping service provider’s stock valued at $65,000 after purchasing an additional 102 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE:FDX opened at $235.39 on Thursday. The business’s fifty day moving average price is $231.44 and its two-hundred day moving average price is $225.68. The stock has a market cap of $55.54 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were issued a dividend of $1.45 per share. The ex-dividend date was Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. FedEx’s dividend payout ratio (DPR) is 33.86%.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on FedEx from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, September 19th. Jefferies Financial Group raised their price objective on FedEx from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Wolfe Research raised their price objective on FedEx from $254.00 to $298.00 in a research note on Tuesday, October 7th. Truist Financial set a $285.00 price objective on FedEx in a research note on Tuesday. Finally, Evercore ISI dropped their price objective on FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $271.83.

FedEx Company Profile

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.