Charles Schwab Investment Management Inc. Has $367.19 Million Holdings in FedEx Corporation (NYSE:FDX)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in FedEx Corporation by 0.4% in the first quarter, holding 1,506,226 shares valued at approximately $367.19 million.
• Several institutional investors have recently raised their stakes in FedEx, contributing to a total ownership of 84.47% of the company’s stock by institutional investors and hedge funds.
• FedEx announced a quarterly dividend of $1.45 per share, expected to be paid on October 1st, reflecting an annualized yield of 2.5%.

Charles Schwab Investment Management Inc. increased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,506,226 shares of the shipping service provider's stock after acquiring an additional 5,490 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of FedEx worth $367,188,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FDX. Vanguard Group Inc. grew its holdings in shares of FedEx by 1.4% during the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock valued at $4,994,848,000 after purchasing an additional 289,655 shares during the last quarter. Dodge & Cox lifted its position in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of FedEx by 13.1% in the fourth quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider's stock valued at $663,100,000 after purchasing an additional 273,478 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FedEx by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,192,801 shares of the shipping service provider's stock worth $616,892,000 after acquiring an additional 19,795 shares in the last quarter. Finally, ACR Alpine Capital Research LLC raised its holdings in shares of FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after acquiring an additional 732,266 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director directly owned 8,935 shares of the company's stock, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 in the last three months. 8.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FDX shares. BMO Capital Markets lowered their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Susquehanna lifted their target price on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Bank of America cut their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. JPMorgan Chase & Co. raised their price target on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 price target on shares of FedEx in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $283.25.

FedEx Stock Up 2.5%

FDX traded up $5.58 during trading on Tuesday, hitting $230.19. The company had a trading volume of 1,920,719 shares, compared to its average volume of 1,994,114. The company has a market capitalization of $54.30 billion, a PE ratio of 13.64, a PEG ratio of 1.19 and a beta of 1.30. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53. The firm's 50-day moving average price is $228.53 and its 200 day moving average price is $232.83. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion for 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 in the previous year, the firm posted $5.41 EPS. As a group, equities analysts expect that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.5%. FedEx's payout ratio is 34.36%.

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.