Fagan Associates Inc. Trims Stock Holdings in FedEx Corporation (NYSE:FDX)

Fagan Associates Inc. decreased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,105 shares of the shipping service provider's stock after selling 1,691 shares during the period. Fagan Associates Inc.'s holdings in FedEx were worth $6,364,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FDX. Golden State Wealth Management LLC lifted its position in FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock valued at $88,000 after purchasing an additional 63 shares during the last quarter. NBC Securities Inc. purchased a new position in FedEx during the 1st quarter valued at $147,000. Farther Finance Advisors LLC increased its position in FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock valued at $538,000 after purchasing an additional 481 shares during the period. Allianz SE purchased a new position in FedEx during the 4th quarter valued at $18,342,000. Finally, Parvin Asset Management LLC bought a new position in FedEx in the 4th quarter worth about $281,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and issued a $260.00 price target (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Citigroup lifted their target price on FedEx from $259.00 to $278.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Susquehanna boosted their target price on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Finally, BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target on the stock in a research note on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

Insider Buying and Selling

In related news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director directly owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the company'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 sale, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This represents a 19.20% 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 over the last quarter. Company insiders own 8.87% of the company's stock.

FedEx Stock Performance

FDX traded up $0.61 during trading on Monday, hitting $227.23. 96,436 shares of the stock were exchanged, compared to its average volume of 1,985,742. The firm has a market capitalization of $54.45 billion, a P/E ratio of 13.47, a PEG ratio of 1.18 and a beta of 1.35. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The stock has a fifty day moving average price of $226.63 and a two-hundred day moving average price of $237.92. 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 released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the previous year, the company posted $5.41 earnings per share. As a group, sell-side analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.