Mediolanum International Funds Ltd Takes Position in FedEx Corporation $FDX

Mediolanum International Funds Ltd acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 8,547 shares of the shipping service provider’s stock, valued at approximately $2,921,000.

Several other large investors have also made changes to their positions in FDX. Bayban purchased a new stake in FedEx during the 1st quarter worth $26,000. EFG International AG bought a new stake in shares of FedEx in the 4th quarter valued at approximately $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the third quarter worth $28,000. Ulland Investment Advisors LLC acquired a new stake in FedEx during the fourth quarter worth about $29,000. Finally, Tucker Asset Management LLC acquired a new position in FedEx during the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 2.2%

NYSE FDX opened at $306.08 on Tuesday. The stock’s 50 day moving average is $340.67 and its two-hundred day moving average is $349.72. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a market capitalization of $73.03 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.61 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same quarter last year, the business posted $6.07 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Equities analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

Analysts Set New Price Targets

FDX has been the subject of a number of analyst reports. Seaport Research Partners initiated coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Argus raised their price objective on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. TD Cowen reduced their target price on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Finally, Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate 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.