R Squared Ltd Takes Position in FedEx Corporation $FDX

R Squared Ltd bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,101 shares of the shipping service provider’s stock, valued at approximately $1,105,000. FedEx accounts for about 0.6% of R Squared Ltd’s holdings, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of FedEx in the second quarter valued at about $586,000. Quantbot Technologies LP acquired a new position in shares of FedEx during the second quarter worth about $186,000. Finally, Jump Financial LLC acquired a new position in shares of FedEx during the second quarter worth about $456,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FDX shares. Bank of America raised their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Raymond James Financial cut their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. Zacks Research cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Wells Fargo & Company decreased their price target on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Finally, Seaport Research Partners assumed coverage on FedEx in a report on Wednesday, May 27th. They set a “buy” rating on the stock. Eighteen 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 company presently has an average rating of “Moderate Buy” and an average target price of $349.60.

FedEx Price Performance

FDX traded up $3.25 on Tuesday, hitting $313.18. 263,177 shares of the company were exchanged, compared to its average volume of 2,294,071. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market capitalization of $74.73 billion, a P/E ratio of 16.93 and a beta of 1.29. The business’s fifty day moving average is $356.40 and its 200 day moving average is $348.06.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (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 net margin of 4.68% and a return on equity of 16.49%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares in the company, valued at $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,146 shares of company stock valued at $19,235,438 in the last three months. 0.53% of the stock is owned by insiders.

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.