FedEx Corporation $FDX Shares Sold by Suncoast Equity Management

by · The Cerbat Gem

Suncoast Equity Management decreased its position in shares of FedEx Corporation (NYSE:FDX – Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,048 shares of the shipping service provider’s stock after selling 216 shares during the quarter. Suncoast Equity Management’s holdings in FedEx were worth $466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. SouthState Corp boosted its holdings in shares of FedEx by 6.3% during the second quarter. SouthState Corp now owns 1,521 shares of the shipping service provider’s stock valued at $346,000 after acquiring an additional 90 shares during the period. Andra AP fonden lifted its holdings in FedEx by 16.2% in the second quarter. Andra AP fonden now owns 91,600 shares of the shipping service provider’s stock worth $20,822,000 after purchasing an additional 12,800 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in FedEx by 5.5% in the second quarter. Resona Asset Management Co. Ltd. now owns 76,874 shares of the shipping service provider’s stock worth $17,492,000 after purchasing an additional 3,999 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in FedEx in the second quarter worth about $250,000. Finally, SNS Financial Group LLC acquired a new stake in FedEx in the second quarter worth about $788,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.6%

Shares of NYSE:FDX opened at $255.99 on Thursday. The stock has a market capitalization of $60.40 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.40 and a beta of 1.31. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 1.25. The company has a 50 day moving average price of $236.37 and a 200 day moving average price of $229.15.

FedEx (NYSE:FDX – Get Free Report) last issued its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.12. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.74 billion. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, research analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on FDX. Bank of America upped their price objective on shares of FedEx from $240.00 to $244.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Sanford C. Bernstein upped their price objective on shares of FedEx from $247.00 to $250.00 and gave the stock a “market perform” rating in a report on Monday, September 22nd. Dbs Bank raised shares of FedEx from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FedEx in a report on Friday, October 31st. Finally, Stifel Nicolaus reduced their price objective on shares of FedEx from $308.00 to $296.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.83.

Read Our Latest Analysis on FedEx

FedEx Company Profile

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

Further Reading

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX – Free Report).