FedEx Corporation $FDX Position Reduced by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX) by 15.2% in the third quarter, HoldingsChannel.com reports. The firm owned 13,383 shares of the shipping service provider’s stock after selling 2,400 shares during the period. Meridian Investment Counsel Inc.’s holdings in FedEx were worth $3,156,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 207 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in FedEx by 62.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,831 shares of the shipping service provider’s stock worth $9,222,000 after acquiring an additional 14,574 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in FedEx by 1.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 7,803 shares of the shipping service provider’s stock valued at $1,911,000 after acquiring an additional 132 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of FedEx during the 1st quarter valued at about $311,000. Finally, Empowered Funds LLC boosted its position in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup boosted their target price on shares of FedEx from $310.00 to $327.00 and gave the stock a “buy” rating in a report on Friday, December 19th. The Goldman Sachs Group upped their price target on FedEx from $301.00 to $317.00 and gave the company a “buy” rating in a report on Friday, December 19th. Susquehanna cut their price objective on FedEx from $345.00 to $340.00 in a research report on Tuesday, December 23rd. Barclays raised their price objective on FedEx from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Daiwa Capital Markets boosted their target price on FedEx from $232.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.92.

FedEx Price Performance

FDX opened at $307.23 on Thursday. The stock has a fifty day moving average of $276.71 and a 200-day moving average of $247.99. The firm has a market capitalization of $72.23 billion, a P/E ratio of 16.94, a PEG ratio of 1.53 and a beta of 1.35. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $310.64. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 18th. The shipping service provider reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.80. The business had revenue of $23.47 billion for the quarter, compared to the consensus estimate of $22.79 billion. FedEx had a return on equity of 16.63% and a net margin of 4.81%.FedEx’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.05 earnings per share. FedEx has set its FY 2026 guidance at 17.800-19.000 EPS. Equities analysts forecast that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, December 15th were issued a $1.45 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.9%. FedEx’s dividend payout ratio is currently 31.97%.

FedEx Profile

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.