A prior instrument report on FedEx Corp. (FDX) was published on 2026-08-15, noting a new SEC filing and material institutional position changes at that time. No additional briefing disclosures beyond that prior period report were available within the provided context for the current generation date of 2026-09-11. All factual observations in this report are drawn exclusively from verified data sources as enumerated below [Brief - 2026-08-15].
As of the fiscal quarter ending 2026-02-28, FedEx reported trailing twelve-month revenue of $94.72 billion, reflecting year-over-year revenue growth of 8.3%. Net income on a TTM basis stood at $4.43 billion, with a net margin of 4.68% and an operating margin of 5.77%. EPS grew 17.29% year-over-year. The company held $13.31 billion in cash against total debt of $24.20 billion. The reported price-to-earnings ratio was 18.04x [SEC 10-Q - FDX - 2026-02-28].
Insider activity in September 2026 comprised three transactions with a mixed net direction and a net reported value of $0, indicating no material net accumulation or disposal by insiders during the period [SEC Form 4 - FDX - 2026-09]. On the institutional side, four notable managers opened new positions in FDX during the most recent 13F reporting period: AQR Capital Management, Citadel Advisors, Millennium Management, and Bridgewater Associates each initiated positions where none were previously reported [SEC 13F - AQR Capital - Q2 2026] [SEC 13F - Citadel - Q2 2026] [SEC 13F - Millennium - Q2 2026] [SEC 13F - Bridgewater - Q2 2026].
The prevailing macro environment reflected a normal yield curve, with the 10-year U.S. Treasury yield at 4.83% and the 2-year yield at 4.39%, representing a spread of 44 basis points [FRED DGS10] [FRED DGS2]. These conditions form part of the broader interest rate context in which FedEx's debt obligations of $24.20 billion and cash position of $13.31 billion are situated.
This report was generated in response to material institutional position changes, specifically the concurrent opening of new positions by four institutional managers as identified in the most recent 13F filings.