FedEx Corporation (NYSE:FDX) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 37.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 345,715 shares of the shipping service provider's stock after buying an additional 94,637 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of FedEx worth $84,278,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in FedEx during the 4th quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new stake in FedEx during the 4th quarter worth approximately $32,000. Accredited Wealth Management LLC bought a new stake in FedEx during the 4th quarter worth approximately $35,000. Finally, Optiver Holding B.V. bought a new stake in FedEx during the 4th quarter worth approximately $39,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the subject of several recent analyst reports. Barclays reaffirmed an "overweight" rating and issued a $320.00 target price (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and dropped their target price for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Susquehanna increased their target price on FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Citigroup increased 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. Finally, UBS Group dropped their target price on FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $283.25.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction dated Wednesday, July 9th. The shares were 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. The trade was a 31.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. Company insiders own 8.87% of the company's stock.

FedEx Stock Down 0.8%

FDX traded down $1.73 on Friday, hitting $226.64. The company had a trading volume of 1,776,796 shares, compared to its average volume of 1,854,539. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $308.73. The stock has a fifty day simple moving average of $226.63 and a 200-day simple moving average of $238.47. The firm has a market capitalization of $54.30 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.19 and a beta of 1.35.

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 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 analyst estimates of $21.86 billion. During the same period last year, the business earned $5.41 earnings per share. As a group, equities analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is 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.