FedEx Corporation (NYSE:FDX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 349,006 shares of the shipping service provider's stock after purchasing an additional 32,827 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of FedEx worth $85,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after purchasing an additional 63 shares during the period. NBC Securities Inc. purchased a new stake in FedEx during the first quarter valued at about $147,000. Farther Finance Advisors LLC raised its holdings 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 acquiring an additional 481 shares during the period. Allianz SE bought a new position in FedEx in the 4th quarter worth about $18,342,000. Finally, Parvin Asset Management LLC bought a new stake in FedEx during the 4th quarter worth approximately $281,000. Institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Sanford C. Bernstein lowered their price target on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Susquehanna boosted their price objective on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Bank of America decreased their target price on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Finally, BMO Capital Markets cut their target price 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. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $283.25.

Insider Transactions at FedEx

In related news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Trading Down 1.1%

NYSE FDX traded down $2.68 on Friday, reaching $236.05. 1,667,283 shares of the company were exchanged, compared to its average volume of 2,583,605. FedEx Corporation has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The business's fifty day moving average price is $224.99 and its 200 day moving average price is $240.40. The stock has a market capitalization of $56.56 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35.

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. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the previous year, the business earned $5.41 earnings per share. Analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. The ex-dividend date was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.46%. FedEx's 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.