Concurrent Investment Advisors LLC Sells 384 Shares of FedEx Corporation $FDX

Concurrent Investment Advisors LLC cut its stake in shares of FedEx Corporation (NYSE:FDX) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,345 shares of the shipping service provider’s stock after selling 384 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in FedEx were worth $760,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider’s stock valued at $88,000 after acquiring an additional 63 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx in the 2nd quarter valued at about $586,000. Sage Capital Advisors llc boosted its position in shares of FedEx by 136.5% during the 2nd quarter. Sage Capital Advisors llc now owns 34,697 shares of the shipping service provider’s stock valued at $7,887,000 after purchasing an additional 20,024 shares in the last quarter. Value Partners Investments Inc. grew its stake in FedEx by 26.4% during the second quarter. Value Partners Investments Inc. now owns 181,454 shares of the shipping service provider’s stock worth $41,247,000 after purchasing an additional 37,950 shares during the period. Finally, Xcel Wealth Management LLC acquired a new stake in FedEx during the second quarter worth approximately $1,200,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $236.91 on Friday. The business’s 50 day simple moving average is $231.68 and its 200 day simple moving average is $225.63. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a market cap of $55.90 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.31 and a beta of 1.28. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73.

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

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, September 8th. FedEx’s dividend payout ratio (DPR) is 33.86%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FDX shares. Truist Financial set a $285.00 price objective on shares of FedEx in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of FedEx in a report on Wednesday, October 8th. Evercore ISI reduced their price objective on FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. The Goldman Sachs Group decreased their price objective on FedEx from $290.00 to $276.00 and set a “buy” rating for the company in a report on Friday, September 12th. Finally, Bank of America lifted their price target on shares of FedEx from $240.00 to $244.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. One investment 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.83.

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.