Family Legacy Inc. Acquires Shares of 2,410 FedEx Corporation $FDX

Family Legacy Inc. bought a new position in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,410 shares of the shipping service provider’s stock, valued at approximately $755,000.

Other large investors have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its position in FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 26 shares during the period. OneAscent Financial Services LLC grew its stake in shares of FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after buying an additional 29 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in shares of FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after buying an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in shares of FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 30 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 1.4%

Shares of NYSE FDX opened at $334.56 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 business has a fifty day simple moving average of $319.39 and a two-hundred day simple moving average of $351.07. The firm has a market cap of $79.15 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. Analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Automation strategy supports efficiency: FedEx is sharpening its focus on automation to improve productivity and reduce costs, which could support margins over time. FedEx Automation Strategy Sharpens Focus on Efficiency
• Positive Sentiment: Industry shipping constraints may improve pricing: Capacity limitations, delays and higher prices reported by major ocean carriers could benefit parcel and freight operators such as FedEx if customers shift transportation modes or accept higher shipping rates. Walmart, Tesla, FedEx, and More Winners and Losers From Shipping’s Rough Seas
• Neutral Sentiment: Call-option activity signals bullish speculation: Investors purchased a high volume of FedEx call options, indicating increased expectations for a rebound, although options activity does not guarantee fundamental improvement. Investors Purchase High Volume of Call Options on FedEx
• Neutral Sentiment: FedEx Freight’s upbeat debut is separate from FDX: Newly independent FedEx Freight Holding Company (NASDAQ: FDXF) attracted favorable analyst coverage, with reported targets above its trading level and fiscal fourth-quarter revenue of $2.4 billion. The development may highlight value unlocked by FedEx’s freight separation, but FDXF now trades as a separate company.
• Negative Sentiment: Tariff refunds will not provide a lasting earnings boost: FedEx reportedly plans to return approximately $800 million in tariff refunds to customers after courts invalidated the tariffs. Passing the funds through limits the benefit to FedEx’s profits and could create administrative costs or temporary cash-flow pressure. Nike, FedEx Reap Billions From Tariff Refunds
• Negative Sentiment: Southern California closures and layoffs underscore cost pressure: FedEx is among employers announcing more than 500 job cuts in the region, including facility closures in Palm Springs and Victorville. While potentially supportive of restructuring savings, the actions point to softer demand and ongoing network rationalization. FedEx and Others Announce Layoffs in Southern California

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FDX shares. Citigroup began coverage on FedEx in a report on Wednesday, July 15th. They set an “outperform” rating for the company. Weiss Ratings downgraded FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Wells Fargo & Company cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Finally, Evercore set a $165.00 price target on shares of FedEx in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Company 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.