Cetera Investment Advisers Boosts Stake in FedEx Corporation $FDX

Key Points

• Cetera Investment Advisers increased its FedEx stake by 5.9% in the first quarter, ending with 111,663 shares valued at about $39.8 million. Other institutional investors also adjusted positions, and hedge funds/institutions now own 84.47% of FedEx.
• Insider selling was reported when Director Paul S. Walsh sold 5,042 shares on June 30 at an average price of $324.56, reducing his holdings by 23.56%. Insiders collectively own just 0.53% of the company.
• FedEx reported quarterly EPS of $5.88 on revenue of $23.26 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $350.54. The stock also traded below its recent moving averages, opening at $314.77 versus a 50-day average of $335.98.

Cetera Investment Advisers grew its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,663 shares of the shipping service provider's stock after buying an additional 6,207 shares during the quarter. Cetera Investment Advisers' holdings in FedEx were worth $39,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Sivia Capital Partners LLC purchased a new position in shares of FedEx in the 2nd quarter worth about $586,000. CWM LLC increased its holdings in FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider's stock worth $31,206,000 after buying an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan increased its holdings in FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock worth $1,962,000 after buying an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock worth $12,081,000 after acquiring an additional 6,864 shares during the period. Finally, North Dakota State Investment Board bought a new stake in FedEx in the fourth quarter worth about $2,122,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

FedEx Stock Performance

NYSE FDX opened at $314.77 on Friday. The firm has a market cap of $74.47 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $335.98 and its 200-day moving average is $350.05. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. Sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's dividend payout ratio (DPR) is presently 26.36%.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. Seaport Research Partners started coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a "buy" rating for the company. UBS Group dropped their price objective on FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Stifel Nicolaus dropped their price objective on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Rothschild & Co Redburn reduced their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a report on Tuesday, June 2nd. Finally, Argus raised their target price on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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