Russell Investments Group Ltd. Sells 43,311 Shares of FedEx Corporation $FDX

Russell Investments Group Ltd. reduced its holdings in FedEx Corporation (NYSE:FDX) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,480 shares of the shipping service provider’s stock after selling 43,311 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of FedEx worth $74,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Valeo Financial Advisors LLC grew its holdings in shares of FedEx by 28,080.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,743,557 shares of the shipping service provider’s stock worth $850,948,000 after purchasing an additional 3,730,273 shares during the last quarter. Nuveen LLC acquired a new position in FedEx during the 1st quarter worth about $314,650,000. Vanguard Group Inc. grew its holdings in FedEx by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider’s stock worth $4,994,848,000 after acquiring an additional 289,655 shares during the last quarter. Canada Pension Plan Investment Board increased its position in FedEx by 302.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 352,296 shares of the shipping service provider’s stock valued at $85,883,000 after acquiring an additional 264,792 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of FedEx in the first quarter worth about $64,242,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on FDX shares. Evercore ISI decreased their price target on shares of FedEx from $243.00 to $239.00 in a research note on Friday, September 19th. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of FedEx in a research report on Tuesday, October 14th. The Goldman Sachs Group dropped their target price on FedEx from $290.00 to $276.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Jefferies Financial Group raised their price target on FedEx from $275.00 to $280.00 and gave the company a “buy” rating in a report on Friday, September 19th. Finally, Sanford C. Bernstein lifted their price objective on FedEx from $247.00 to $250.00 and gave the stock a “market perform” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $276.13.

FedEx Stock Up 0.8%

Shares of FedEx stock opened at $275.93 on Thursday. The business has a fifty day simple moving average of $247.94 and a 200 day simple moving average of $234.71. The stock has a market cap of $65.11 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $304.78.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.12. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a return on equity of 16.33% and a net margin of 4.65%.The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 earnings per share. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 15th. FedEx’s dividend payout ratio is presently 33.86%.

FedEx Profile

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.