Cambridge Investment Research Advisors Inc. lowered its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,389 shares of the shipping service provider's stock after selling 1,452 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in FedEx were worth $12,284,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in FedEx in the fourth quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Runnymede Capital Advisors Inc. purchased a new position in shares of FedEx in the 4th quarter worth approximately $32,000. Accredited Wealth Management LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $35,000. Finally, Optiver Holding B.V. bought a new position in shares of FedEx during the 4th quarter worth approximately $39,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Stock Performance
NYSE:FDX traded down $7.44 during trading hours on Wednesday, reaching $222.07. The company had a trading volume of 8,086,221 shares, compared to its average volume of 1,890,978. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The business's 50 day moving average price is $219.11 and its 200-day moving average price is $243.86. The firm has a market cap of $53.21 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.
FedEx (NYSE:FDX - Get Free Report) last posted 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 firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same period in the previous year, the business posted $5.41 EPS. Research analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 36.39%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Raymond James Financial reduced their price target on FedEx from $275.00 to $260.00 and set an "outperform" rating on the stock in a research report on Wednesday. Sanford C. Bernstein dropped their target price on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. JPMorgan Chase & Co. upped their target price on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group decreased their price target on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Barclays dropped their price target on FedEx from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $285.75.
Get Our Latest Analysis on FedEx
Insider Buying and Selling
In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This trade represents a 20.86% 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 hyperlink. 8.87% of the stock is currently owned by insiders.
About FedEx
(
Free Report)
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.
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