Elevation Point Wealth Partners LLC Acquires 3,509 Shares of FedEx Corporation $FDX

Elevation Point Wealth Partners LLC boosted its holdings in shares of FedEx Corporation (NYSE:FDX) by 103.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,905 shares of the shipping service provider’s stock after acquiring an additional 3,509 shares during the period. Elevation Point Wealth Partners LLC’s holdings in FedEx were worth $2,466,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FDX. Platform Technology Partners acquired a new stake in shares of FedEx in the 1st quarter worth about $223,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in FedEx by 72.5% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 14,793 shares of the shipping service provider’s stock worth $5,269,000 after purchasing an additional 6,215 shares in the last quarter. Seamount Financial Group Inc. bought a new stake in FedEx during the 1st quarter worth approximately $212,000. Root Financial Partners LLC raised its stake in shares of FedEx by 54.8% in the first quarter. Root Financial Partners LLC now owns 969 shares of the shipping service provider’s stock worth $345,000 after purchasing an additional 343 shares during the last quarter. Finally, Jacobsen Capital Management purchased a new stake in shares of FedEx in the first quarter worth approximately $220,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated 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 sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 53,146 shares of company stock worth $19,235,438. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. Stifel Nicolaus dropped their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. HSBC decreased their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday, June 1st. The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Citigroup lifted their price objective on shares of FedEx from $356.73 to $359.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Zacks Research lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $349.60.

FedEx Stock Performance

FDX stock opened at $313.21 on Friday. The firm has a market cap of $74.73 billion, a PE ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average of $356.40 and a 200-day moving average of $347.60. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a return on equity of 16.49% and a net margin of 4.68%.FedEx’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. 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 (DPR) is currently 26.36%.

About FedEx

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.