Cassia Capital Partners LLC Boosts Holdings in FedEx Corporation (NYSE:FDX)

Cassia Capital Partners LLC increased its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 61.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,626 shares of the shipping service provider's stock after buying an additional 1,374 shares during the period. Cassia Capital Partners LLC's holdings in FedEx were worth $884,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FDX. Transce3nd LLC purchased a new stake in FedEx during the fourth quarter worth about $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the fourth quarter worth about $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx during the fourth quarter worth about $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx during the fourth quarter worth about $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FDX shares. Raymond James Financial reduced their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Stephens reiterated an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Sanford C. Bernstein reduced their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Finally, Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and a consensus target price of $292.54.

FedEx Trading Up 1.1%

Shares of FedEx stock opened at $225.78 on Friday. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a market cap of $54.10 billion, a PE ratio of 14.16, a PEG ratio of 1.08 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The company has a 50 day simple moving average of $218.30 and a two-hundred day simple moving average of $244.56.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.46% and a return on equity of 16.00%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.57%. FedEx's payout ratio is presently 34.63%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.87% of the stock is currently owned by company 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.

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