WCM Investment Management LLC Invests $17.61 Million in FedEx Corporation $FDX

WCM Investment Management LLC bought a new position in FedEx Corporation (NYSE:FDX) during the first quarter, Holdings Channel reports. The firm bought 51,533 shares of the shipping service provider’s stock, valued at approximately $17,612,000.

Other large investors have also added to or reduced their stakes in the company. Bayban bought a new stake in FedEx during the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC lifted its holdings in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. EFG International AG purchased a new position in shares of FedEx during the fourth quarter valued at approximately $27,000. Ulland Investment Advisors LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $29,000. Finally, Tucker Asset Management LLC bought a new stake in FedEx during the fourth quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock opened at $313.17 on Monday. The business’s fifty day simple moving average is $342.12 and its 200 day simple moving average is $349.62. 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 Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The firm has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. During the same quarter in the prior year, the company earned $6.07 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. UBS Group lowered their price target on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. HSBC reduced their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Seaport Research Partners assumed coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insiders Place Their Bets

In related news, 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 transaction, the director owned 16,359 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.