Bank Julius Baer & Co. Ltd Zurich Has $1.88 Million Stock Position in FedEx Corporation (NYSE:FDX)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,702 shares of the shipping service provider's stock after selling 5,419 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in FedEx were worth $1,878,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in FedEx in the 4th quarter valued at $807,352,000. Dodge & Cox grew its position in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. GAMMA Investing LLC grew its position in FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after acquiring an additional 542,605 shares in the last quarter. Capital Research Global Investors acquired a new stake in FedEx in the fourth quarter valued at approximately $145,733,000. Finally, Franklin Resources Inc. grew its position in FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on FDX. JPMorgan Chase & Co. raised their price objective on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. TD Cowen decreased their price objective on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. UBS Group decreased their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target for the company in a research note on Thursday, July 3rd. Finally, BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus target price of $283.25.

FedEx Price Performance

FedEx stock traded up $6.77 during trading hours on Friday, hitting $243.28. 1,811,699 shares of the stock were exchanged, compared to its average volume of 1,994,019. The stock has a market capitalization of $57.39 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.23 and a beta of 1.35. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The business's 50-day moving average is $227.02 and its two-hundred day moving average is $237.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

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

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.38%. 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 is presently 34.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the sale, the director directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 over the last three months. 8.87% of the stock is owned by insiders.

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.