Hsbc Holdings PLC Sells 56,221 Shares of FedEx Corporation $FDX

Hsbc Holdings PLC trimmed its position in FedEx Corporation (NYSE:FDX) by 13.5% in the first quarter, HoldingsChannel.com reports. The firm owned 361,361 shares of the shipping service provider’s stock after selling 56,221 shares during the period. Hsbc Holdings PLC’s holdings in FedEx were worth $128,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FDX. Bayban bought a new stake in FedEx in the 1st quarter valued at $26,000. EFG International AG bought a new position in shares of FedEx during the 4th quarter worth about $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the 3rd quarter valued at about $28,000. Ulland Investment Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter valued at about $29,000. Finally, Tucker Asset Management LLC bought a new stake in FedEx in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 1.6%

Shares of FedEx stock opened at $313.17 on Friday. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The stock has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. The company has a 50-day simple moving average of $342.12 and a 200 day simple moving average of $349.22. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released 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 firm had revenue of $25.01 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Research analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th. Stifel Nicolaus decreased their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Barclays lowered their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Weiss Ratings cut FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, TD Cowen cut their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on 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 directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

FedEx Profile

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.