Atria Investments Inc Buys 12,186 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Atria Investments Inc boosted its holdings in FedEx Corporation by 40.8%, acquiring an additional 12,186 shares, bringing their total ownership to 42,050 shares valued at approximately $10.25 million.
• FedEx has declared a quarterly dividend of $1.45 per share, reflecting an annualized rate of $5.80 and a yield of 2.38%, which is an increase from the previous dividend.
• FedEx's stock rose by 2.9% to trade at $243.28, while analysts have mixed ratings, with an average consensus target price of $283.25 for the stock.

Atria Investments Inc increased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,050 shares of the shipping service provider's stock after acquiring an additional 12,186 shares during the period. Atria Investments Inc's holdings in FedEx were worth $10,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FDX. One Wealth Advisors LLC purchased a new stake in FedEx in the 1st quarter worth approximately $238,000. Kovack Advisors Inc. raised its stake in shares of FedEx by 2.8% during the 1st quarter. Kovack Advisors Inc. now owns 2,428 shares of the shipping service provider's stock worth $592,000 after purchasing an additional 67 shares in the last quarter. SFE Investment Counsel raised its position in FedEx by 22.9% during the first quarter. SFE Investment Counsel now owns 14,696 shares of the shipping service provider's stock valued at $3,583,000 after acquiring an additional 2,735 shares in the last quarter. Mendel Money Management raised its position in FedEx by 6.2% during the first quarter. Mendel Money Management now owns 1,025 shares of the shipping service provider's stock valued at $250,000 after acquiring an additional 60 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new position in FedEx during the first quarter valued at approximately $882,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,343 shares of company stock worth $2,228,816. Company insiders own 8.87% of the company's stock.

FedEx Stock Up 2.9%

FDX traded up $6.77 on Friday, hitting $243.28. 1,811,699 shares of the company were exchanged, compared to its average volume of 1,994,019. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a market cap of $57.39 billion, a PE ratio of 14.41, a PEG ratio of 1.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The stock's fifty day moving average is $227.02 and its 200-day moving average is $237.07.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the prior year, the business earned $5.41 EPS. Equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is 34.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FDX shares. Stephens restated an "overweight" rating and set a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. UBS Group cut their price objective on FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price target on shares of FedEx in a research report on Wednesday, June 25th. Finally, Sanford C. Bernstein dropped their price target on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $283.25.

About FedEx

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.