Ballentine Partners LLC Sells 3,150 Shares of FedEx Corporation (NYSE:FDX)

Ballentine Partners LLC trimmed its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 22.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,195 shares of the shipping service provider's stock after selling 3,150 shares during the period. Ballentine Partners LLC's holdings in FedEx were worth $2,729,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FDX. Golden State Wealth Management LLC raised its stake in shares of FedEx by 21.1% during the 1st quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after purchasing an additional 63 shares in the last quarter. NBC Securities Inc. acquired a new position in FedEx during the first quarter worth $147,000. Farther Finance Advisors LLC raised its position in FedEx by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after acquiring an additional 481 shares in the last quarter. Allianz SE bought a new stake in FedEx during the fourth quarter worth $18,342,000. Finally, Parvin Asset Management LLC acquired a new stake in FedEx in the fourth quarter valued at $281,000. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.9%

Shares of FedEx stock traded down $2.19 on Monday, reaching $233.87. 1,432,906 shares of the company's stock were exchanged, compared to its average volume of 2,009,733. The company has a market capitalization of $56.04 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $313.84. 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 firm's 50-day moving average is $225.31 and its two-hundred day moving average is $239.66.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio (DPR) is 34.36%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Susquehanna upped their price objective on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Raymond James Financial reaffirmed 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. Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a research report on Wednesday, June 25th. Bank of America decreased their price target on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and dropped their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $283.25.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of FedEx 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 transaction, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the firm'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 directly owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock valued at $2,228,816 over the last 90 days. Insiders own 8.87% of the company's stock.

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.