Allspring Global Investments Holdings LLC Sells 1,131 Shares of FedEx Corporation (NYSE:FDX)

Allspring Global Investments Holdings LLC lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,651 shares of the shipping service provider's stock after selling 1,131 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in FedEx were worth $2,577,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FDX. Norges Bank acquired a new position in FedEx in the 4th quarter valued at approximately $807,352,000. Dodge & Cox increased its stake 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 worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of FedEx by 18,202.1% during the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after purchasing an additional 542,605 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of FedEx during the 4th quarter worth $145,733,000. Finally, Franklin Resources Inc. increased its stake in shares of FedEx by 8.1% during the 4th 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. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

FDX stock traded up $2.29 during trading on Thursday, hitting $238.80. 1,938,876 shares of the stock traded hands, compared to its average volume of 1,859,146. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The stock has a market cap of $57.22 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.25 and a beta of 1.35. The company has a 50 day simple moving average of $224.41 and a 200 day simple moving average of $240.61. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

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

FedEx Increases Dividend

The company also recently declared 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 is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Cowen reaffirmed a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Bank of America decreased their price objective on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Finally, BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average price target of $283.25.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the business's 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 completion of the transaction, the director directly owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,343 shares of company stock valued at $2,228,816. 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.