Callahan Advisors LLC Grows Holdings in FedEx Corporation (NYSE:FDX)

Callahan Advisors LLC raised its position in FedEx Corporation (NYSE:FDX - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,875 shares of the shipping service provider's stock after acquiring an additional 2,867 shares during the quarter. FedEx makes up about 1.6% of Callahan Advisors LLC's investment portfolio, making the stock its 19th largest holding. Callahan Advisors LLC's holdings in FedEx were worth $17,278,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the last quarter. Proficio Capital Partners LLC bought a new position in FedEx during the fourth quarter worth about $56,065,000. Sage Mountain Advisors LLC increased its position in FedEx by 12.0% during the fourth quarter. Sage Mountain Advisors LLC now owns 1,182 shares of the shipping service provider's stock worth $332,000 after acquiring an additional 127 shares during the period. HighTower Advisors LLC increased its position in FedEx by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 314,754 shares of the shipping service provider's stock worth $88,550,000 after acquiring an additional 5,194 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in FedEx by 5.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,731 shares of the shipping service provider's stock worth $2,738,000 after acquiring an additional 478 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In related news, Director Marvin R. Ellison sold 3,610 shares of the business'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 approximately $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 over the last three months. 8.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on FDX. Wells Fargo & Company raised their price target on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 25th. Cowen reissued a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. UBS Group decreased their target price on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Susquehanna raised their target price on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Finally, Bank of America decreased their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $283.25.

FedEx Stock Down 1.1%

NYSE:FDX traded down $2.68 during trading hours on Friday, reaching $236.05. The company had a trading volume of 1,667,283 shares, 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. The firm has a market cap of $56.56 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.25 and a beta of 1.35. The business's 50-day simple moving average is $225.31 and its two-hundred day simple moving average is $240.15. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, June 23rd. FedEx's dividend payout ratio (DPR) is currently 34.36%.

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.