Axxcess Wealth Management LLC Has $1.17 Million Holdings in FedEx Corporation (NYSE:FDX)

Axxcess Wealth Management LLC reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 79.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,782 shares of the shipping service provider's stock after selling 18,460 shares during the period. Axxcess Wealth Management LLC's holdings in FedEx were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of FDX. Transce3nd LLC bought a new stake in FedEx during the 4th quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx in the 4th quarter valued at $28,000. Runnymede Capital Advisors Inc. acquired a new stake in FedEx during the 4th quarter worth $32,000. Accredited Wealth Management LLC acquired a new stake in FedEx during the 4th quarter worth $35,000. Finally, Abound Financial LLC acquired a new stake in FedEx during the 1st quarter worth $38,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of NYSE FDX traded down $2.68 during midday trading on Friday, reaching $236.05. 1,667,283 shares of the company were exchanged, compared to its average volume of 1,859,949. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The stock has a market cap of $56.56 billion, a P/E ratio of 13.98, a PEG ratio of 1.25 and a beta of 1.35. The stock's 50-day moving average price is $225.31 and its 200-day moving average price is $240.15.

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

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were issued a $1.45 dividend. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.46%. FedEx's payout ratio is presently 34.36%.

Insider Activity at FedEx

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on FDX shares. Cowen reiterated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Bank of America reduced their price target on FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and set a $260.00 price objective (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and cut their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Finally, Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $283.25.

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.