FedEx Corporation (NYSE:FDX) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,573 shares of the shipping service provider's stock after purchasing an additional 1,305 shares during the period. DekaBank Deutsche Girozentrale owned 0.06% of FedEx worth $35,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FDX. Navalign LLC increased its stake in FedEx by 2.2% during the 1st quarter. Navalign LLC now owns 2,902 shares of the shipping service provider's stock worth $707,000 after purchasing an additional 62 shares in the last quarter. Davidson Investment Advisors grew its stake in shares of FedEx by 2.1% during the 1st quarter. Davidson Investment Advisors now owns 85,914 shares of the shipping service provider's stock worth $20,944,000 after acquiring an additional 1,787 shares in the last quarter. Abound Financial LLC acquired a new stake in shares of FedEx in the 1st quarter valued at approximately $38,000. Washington Trust Bank acquired a new stake in shares of FedEx in the 1st quarter valued at approximately $218,000. Finally, Fullcircle Wealth LLC boosted its holdings in shares of FedEx by 43.5% in the 1st quarter. Fullcircle Wealth LLC now owns 3,428 shares of the shipping service provider's stock valued at $836,000 after buying an additional 1,039 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE:FDX traded down $2.68 during mid-day trading on Friday, reaching $236.05. 1,667,283 shares of the company traded hands, compared to its average volume of 1,859,949. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The firm has a market cap of $56.56 billion, a PE ratio of 13.98, a PEG ratio of 1.25 and a beta of 1.35. The company's 50 day moving average price is $225.31 and its 200-day moving average price is $240.15.

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

FedEx Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FDX. Citigroup boosted their target price on shares of FedEx from $259.00 to $278.00 and gave the company a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and lowered their price objective for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Sanford C. Bernstein lowered their price objective on 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, Loop Capital cut FedEx from a "hold" rating to a "sell" rating and reduced their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus price target of $283.25.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the transaction, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock worth $2,228,816 over the last quarter. Company insiders own 8.87% of the company's stock.

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.