Chevy Chase Trust Holdings LLC Cuts Stake in FedEx Corporation (NYSE:FDX)

Chevy Chase Trust Holdings LLC lowered its stake in FedEx Corporation (NYSE:FDX - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,500 shares of the shipping service provider's stock after selling 2,077 shares during the period. Chevy Chase Trust Holdings LLC's holdings in FedEx were worth $28,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in shares of FedEx during the 1st quarter valued at about $147,000. Farther Finance Advisors LLC boosted its position 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 in the last quarter. Allianz SE purchased a new position in shares of FedEx during the 4th quarter worth approximately $18,342,000. Parvin Asset Management LLC bought a new position in shares of FedEx in the 4th quarter worth approximately $281,000. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock valued at $3,734,000 after purchasing an additional 6,180 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FedEx stock traded down $1.01 on Thursday, hitting $220.99. 4,708,661 shares of the company's stock were exchanged, compared to its average volume of 1,884,976. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. The stock has a market capitalization of $52.95 billion, a PE ratio of 13.09, a PEG ratio of 1.15 and a beta of 1.35. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a 50-day simple moving average of $219.48 and a 200-day simple moving average of $243.71.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly 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 return on equity of 16.54% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the previous year, the company posted $5.41 earnings per share. As a group, equities analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.62%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 36.39%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FDX shares. Sanford C. Bernstein lowered their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and lowered their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Cfra Research upgraded shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Wells Fargo & Company raised their target price on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Bank of America dropped their price target on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.17.

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.