Pinnacle Associates Ltd. Increases Position in FedEx Corporation $FDX

by · The Cerbat Gem

Pinnacle Associates Ltd. raised its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,974 shares of the shipping service provider’s stock after buying an additional 148 shares during the period. Pinnacle Associates Ltd.’s holdings in FedEx were worth $18,633,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in FedEx during the first quarter valued at about $38,000. WPG Advisers LLC purchased a new stake in FedEx during the first quarter valued at about $43,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of FedEx by 60.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock worth $46,000 after buying an additional 71 shares during the period. Motco increased its stake in shares of FedEx by 61.8% in the first quarter. Motco now owns 267 shares of the shipping service provider’s stock worth $65,000 after buying an additional 102 shares during the period. Finally, Rise Advisors LLC increased its stake in shares of FedEx by 21.0% in the first quarter. Rise Advisors LLC now owns 340 shares of the shipping service provider’s stock worth $83,000 after buying an additional 59 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of several analyst reports. Evercore ISI decreased their target price on shares of FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. TD Cowen increased their target price on shares of FedEx from $269.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of FedEx in a report on Wednesday, October 8th. Stifel Nicolaus dropped their target price 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. Finally, Jefferies Financial Group increased their target price on shares of FedEx from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $271.83.

Check Out Our Latest Stock Report on FedEx

FedEx Price Performance

FDX stock opened at $248.98 on Friday. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The company has a market cap of $58.75 billion, a P/E ratio of 14.53, a PEG ratio of 1.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.21. The firm has a 50-day moving average of $234.71 and a 200 day moving average of $227.71.

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

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 33.86%.

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.

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