Atria Wealth Solutions Inc. Sells 2,134 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Atria Wealth Solutions Inc. decreased its stake in FedEx Corporation by 16.4% in the 1st quarter, now holding 10,905 shares worth approximately $2.67 million.
• Several institutional investors have increased their positions in FedEx, including Dodge & Cox, which raised its stake by 5.6% and now owns 13.89 million shares valued at around $3.91 billion.
• FedEx reported earnings of $6.07 EPS for the last quarter, beating analysts' expectations, and will pay a quarterly dividend of $1.45 to shareholders on October 1st.

Atria Wealth Solutions Inc. reduced its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,905 shares of the shipping service provider's stock after selling 2,134 shares during the period. Atria Wealth Solutions Inc.'s holdings in FedEx were worth $2,672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dodge & Cox boosted 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 acquiring an additional 734,268 shares in the last quarter. Northern Trust Corp lifted its position in FedEx by 13.1% during the 4th quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider's stock worth $663,100,000 after acquiring an additional 273,478 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in FedEx by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,192,801 shares of the shipping service provider's stock worth $616,892,000 after acquiring an additional 19,795 shares during the last quarter. ACR Alpine Capital Research LLC lifted its position in FedEx by 85.9% during the 1st quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after acquiring an additional 732,266 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in FedEx by 13.5% during the 4th quarter. Royal Bank of Canada now owns 1,484,122 shares of the shipping service provider's stock worth $417,528,000 after acquiring an additional 176,656 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research analyst reports. UBS Group cut their target price 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. Sanford C. Bernstein cut their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. 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. Stifel Nicolaus set a $315.00 target price on shares of FedEx in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Two 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $283.25.

Insider Buying and Selling at FedEx

In other news, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction 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 transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the transaction, the director owned 15,513 shares in the company, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,343 shares of company stock worth $2,228,816. Insiders own 8.87% of the company's stock.

FedEx Price Performance

FDX stock traded up $5.58 during midday trading on Tuesday, reaching $230.19. 1,920,602 shares of the company's stock traded hands, compared to its average volume of 1,993,838. The company has a 50-day simple moving average of $228.53 and a two-hundred day simple moving average of $232.83. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a market cap of $54.30 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.19 and a beta of 1.30. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio (DPR) is presently 34.36%.

FedEx Company 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.