Choreo LLC Lowers Position in FedEx Corporation (NYSE:FDX)

Choreo LLC trimmed its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 15.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,935 shares of the shipping service provider's stock after selling 2,988 shares during the quarter. Choreo LLC's holdings in FedEx were worth $3,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Brighton Jones LLC boosted its stake in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the period. Teacher Retirement System of Texas lifted its position in shares of FedEx by 781.1% during the fourth quarter. Teacher Retirement System of Texas now owns 13,692 shares of the shipping service provider's stock worth $3,852,000 after purchasing an additional 12,138 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of FedEx by 6.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,264 shares of the shipping service provider's stock worth $356,000 after purchasing an additional 81 shares during the last quarter. LPL Financial LLC lifted its position in shares of FedEx by 12.6% during the fourth quarter. LPL Financial LLC now owns 330,064 shares of the shipping service provider's stock worth $92,857,000 after purchasing an additional 36,911 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its position in shares of FedEx by 4.4% during the fourth quarter. Modern Wealth Management LLC now owns 2,139 shares of the shipping service provider's stock worth $552,000 after purchasing an additional 91 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their target price on FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating 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. UBS Group decreased their target price on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 target price on FedEx in a research report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $283.25.

Insider Transactions at FedEx

In other news, 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 owned 15,513 shares in the company, 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 Securities & Exchange Commission, 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 value of $855,353.40. Following the sale, the director owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,343 shares of company stock worth $2,228,816. Insiders own 8.87% of the company's stock.

FedEx Stock Up 2.9%

FedEx stock traded up $6.77 during trading hours on Friday, reaching $243.28. The stock had a trading volume of 1,811,699 shares, compared to its average volume of 1,994,019. The company has a market cap of $57.39 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.27 and a beta of 1.35. 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 business's 50 day moving average price is $227.02 and its 200-day moving average price is $236.81. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 4.65% and a return on equity of 16.34%. During the same period in the previous year, the company posted $5.41 earnings per share. Sell-side analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. 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 dividend yield of 2.38%. FedEx's payout ratio is presently 34.36%.

About FedEx

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.