Mawer Investment Management Ltd. Sells 87,041 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Mawer Investment Management Ltd. reduced its stake in FedEx by 3.7%, selling 87,041 shares, which now accounts for 2.7% of its total holdings.
• FedEx recently declared a quarterly dividend of $1.45 per share, an increase from the previous dividend of $1.38, representing an annualized yield of 2.39%.
• In recent analyst reports, FedEx received multiple "buy" ratings with a consensus price target set at $283.25, reflecting positive growth expectations despite some downward adjustments in target prices.

Mawer Investment Management Ltd. reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,274,767 shares of the shipping service provider's stock after selling 87,041 shares during the period. FedEx makes up about 2.7% of Mawer Investment Management Ltd.'s holdings, making the stock its 12th largest holding. Mawer Investment Management Ltd. owned 0.95% of FedEx worth $554,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of FedEx by 21.1% in the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after acquiring an additional 63 shares during the period. NBC Securities Inc. bought a new stake in FedEx during the first quarter valued at $147,000. Farther Finance Advisors LLC boosted its stake 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 valued at $538,000 after buying an additional 481 shares during the period. Parvin Asset Management LLC bought a new stake in FedEx during the fourth quarter valued at $281,000. Finally, Landscape Capital Management L.L.C. boosted its stake in FedEx by 87.2% during the fourth 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 buying an additional 6,180 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Down 2.9%

FDX stock traded down $6.43 on Friday, reaching $217.06. 1,349,091 shares of the company traded hands, compared to its average volume of 2,000,160. FedEx Corporation has a one year low of $194.29 and a one year high of $308.53. 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 has a market cap of $51.20 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. The firm has a fifty day simple moving average of $227.85 and a 200-day simple moving average of $235.89.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the company earned $5.41 EPS. Research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.7%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's payout ratio is 34.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The stock was 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 of the company's stock, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction 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 sale, the director directly owned 7,720 shares in the company, valued at $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. Insiders have sold 9,343 shares of company stock valued at $2,228,816 over the last ninety days. Insiders own 8.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group dropped their price objective on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Barclays reissued an "overweight" rating and set a $320.00 price objective (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. BNP Paribas Exane raised FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research note on Thursday, July 3rd. Sanford C. Bernstein dropped their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Finally, Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

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.