Y Intercept Hong Kong Ltd Makes New $8.63 Million Investment in FedEx Corporation $FDX

by · The Markets Daily

Y Intercept Hong Kong Ltd acquired a new stake in FedEx Corporation (NYSE:FDX – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,219 shares of the shipping service provider’s stock, valued at approximately $8,626,000.

Several other large investors have also modified their holdings of FDX. Franklin Resources Inc. boosted its stake in FedEx by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after purchasing an additional 269,567 shares during the period. Sivia Capital Partners LLC acquired a new position in FedEx in the second quarter valued at $586,000. CWM LLC raised its holdings in shares of FedEx by 32.2% in the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after buying an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in shares of FedEx by 85.9% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after buying an additional 3,138 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after buying an additional 6,864 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. BNP Paribas Exane decreased their price objective on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. Raymond James Financial dropped their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. Finally, HSBC cut their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $349.60.

Get Our Latest Analysis on FedEx

Insider Activity

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,146 shares of company stock valued at $19,235,438 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

FedEx Trading Up 0.1%

NYSE FDX opened at $313.21 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $74.73 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.36 and a beta of 1.29. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36. The firm has a 50-day moving average price of $356.40 and a 200 day moving average price of $347.60.

FedEx (NYSE:FDX – Get Free Report) last released its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $25.01 billion for the quarter, compared to analysts’ expectations of $24.04 billion. During the same quarter in the previous year, the firm posted $6.07 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

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

About FedEx

(Free Report)

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.

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