Aries Wealth Management Sells 1,148 Shares of FedEx Corporation (NYSE:FDX)

Aries Wealth Management lessened its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 43.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the shipping service provider's stock after selling 1,148 shares during the quarter. Aries Wealth Management's holdings in FedEx were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wilsey Asset Management Inc. lifted its holdings in shares of FedEx by 2.5% during the 1st quarter. Wilsey Asset Management Inc. now owns 110,847 shares of the shipping service provider's stock valued at $27,022,000 after purchasing an additional 2,734 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in FedEx by 6.9% during the 1st quarter. Missouri Trust & Investment Co now owns 5,623 shares of the shipping service provider's stock worth $1,371,000 after buying an additional 365 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in FedEx by 21.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 92,967 shares of the shipping service provider's stock valued at $22,664,000 after buying an additional 16,490 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in shares of FedEx by 2.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 20,006 shares of the shipping service provider's stock valued at $4,877,000 after buying an additional 482 shares during the period. Finally, Tobam increased its position in shares of FedEx by 522.2% during the first quarter. Tobam now owns 1,966 shares of the shipping service provider's stock worth $479,000 after acquiring an additional 1,650 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on FDX. BMO Capital Markets cut their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. JPMorgan Chase & Co. cut their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, Truist Financial decreased their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.54.

FedEx Stock Performance

NYSE:FDX traded up $0.54 during mid-day trading on Wednesday, hitting $223.07. The stock had a trading volume of 1,512,269 shares, compared to its average volume of 1,855,048. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. The stock has a market cap of $53.45 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.09 and a beta of 1.35. The company's 50 day simple moving average is $217.49 and its 200 day simple moving average is $245.89.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.46% and a return on equity of 16.00%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business earned $3.86 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.60%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx's payout ratio is 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.87% of the company's stock.

FedEx Company 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.