Brandywine Global Investment Management LLC Has $120.30 Million Holdings in FedEx Corporation $FDX

Key Points

• Brandywine Global Investment Management LLC increased its stake in FedEx by 1.5% in the first quarter, acquiring an additional 7,099 shares and now holding approximately 493,487 shares worth about $120.3 million.
• Insider transactions saw Directors Marvin R. Ellison and Paul S. Walsh sell a combined total of 7,220 shares of FedEx stock, reflecting significant decreases in their ownership.
• Analysts have mixed views on FedEx, with price targets ranging from $220.00 to $311.00, while the stock currently has an average rating of "Moderate Buy."

Brandywine Global Investment Management LLC increased its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 493,487 shares of the shipping service provider's stock after acquiring an additional 7,099 shares during the period. FedEx makes up approximately 0.9% of Brandywine Global Investment Management LLC's portfolio, making the stock its 24th biggest holding. Brandywine Global Investment Management LLC owned 0.21% of FedEx worth $120,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its position in FedEx by 21.1% during the 1st 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 period. NBC Securities Inc. bought a new position in shares of FedEx in the first quarter valued at approximately $147,000. Farther Finance Advisors LLC raised its holdings in FedEx by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after purchasing an additional 481 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in FedEx in the fourth quarter worth approximately $281,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of FedEx by 6.1% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 160,596 shares of the shipping service provider's stock valued at $39,150,000 after buying an additional 9,216 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were 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 in the company, valued at approximately $2,160,036.25. The trade was 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 Price Performance

NYSE FDX traded up $0.46 on Monday, hitting $227.72. The company had a trading volume of 1,317,886 shares, compared to its average volume of 1,995,097. 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 company's fifty day moving average price is $229.41 and its 200-day moving average price is $231.53. The company has a market capitalization of $53.72 billion, a PE ratio of 13.49, a PEG ratio of 1.18 and a beta of 1.30. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the company posted $5.41 earnings per share. As a group, analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's dividend payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FDX shares. Susquehanna raised their target price on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target on the stock in a research report on Thursday, July 3rd. Barclays reissued an "overweight" rating and set a $320.00 target price (down previously from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. BMO Capital Markets reduced their price target on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Finally, 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 report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have given 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, the company has an average rating of "Moderate Buy" and a consensus price target of $283.13.

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.