Envestnet Portfolio Solutions Inc. Cuts Position in FedEx Corporation (NYSE:FDX)

Envestnet Portfolio Solutions Inc. cut its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,271 shares of the shipping service provider's stock after selling 4,279 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in FedEx were worth $3,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after purchasing an additional 56,236 shares during the last quarter. Dodge & Cox increased its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its stake in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO John Alan Smith sold 6,155 shares of the company'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 transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.87% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FDX. UBS Group reduced their price objective on FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Bank of America cut their target price on FedEx from $272.00 to $270.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Citigroup cut their target price on FedEx from $305.00 to $267.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $292.54.

FedEx Stock Performance

Shares of NYSE FDX traded up $3.18 during trading on Monday, reaching $229.22. 2,034,062 shares of the company traded hands, compared to its average volume of 1,855,096. The firm's fifty day simple moving average is $218.30 and its 200 day simple moving average is $244.32. The stock has a market cap of $54.92 billion, a P/E ratio of 12.86, a PEG ratio of 1.08 and a beta of 1.35. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.46% and a return on equity of 16.00%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. FedEx's revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx's dividend payout ratio (DPR) is 34.63%.

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.