Bessemer Group Inc. Trims Position in FedEx Corporation (NYSE:FDX)

Bessemer Group Inc. reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 56.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,938 shares of the shipping service provider's stock after selling 10,106 shares during the quarter. Bessemer Group Inc.'s holdings in FedEx were worth $1,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after buying an additional 56,236 shares during the period. Dodge & Cox increased its holdings in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the period. Geode Capital Management LLC increased its holdings in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. increased its holdings in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after buying an additional 323,115 shares during the period. Finally, Invesco Ltd. increased its holdings in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after buying an additional 127,044 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock traded up $7.16 during midday trading on Tuesday, reaching $234.47. The stock had a trading volume of 2,720,558 shares, compared to its average volume of 1,842,666. The company's fifty day simple moving average is $220.63 and its 200 day simple moving average is $242.02. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market cap of $56.18 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.35. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter last year, the firm posted $5.41 EPS. As a group, sell-side analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.47%. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is presently 36.39%.

Analyst Ratings Changes

Several equities analysts recently weighed in on FDX shares. Raymond James Financial reiterated an "outperform" rating and issued a $260.00 price target (down previously from $275.00) on shares of FedEx in a report on Wednesday, June 25th. JPMorgan Chase & Co. increased their price target on shares of FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Cowen reaffirmed a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company raised their price objective on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $283.00.

FedEx 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.