Roffman Miller Associates Inc. PA Trims Stake in FedEx Corporation (NYSE:FDX)

Roffman Miller Associates Inc. PA trimmed its position in FedEx Corporation (NYSE:FDX - Free Report) by 31.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,348 shares of the shipping service provider's stock after selling 7,503 shares during the period. Roffman Miller Associates Inc. PA's holdings in FedEx were worth $3,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of FedEx in the 4th quarter worth approximately $56,065,000. Banco Santander S.A. lifted its stake in FedEx by 142.9% in the fourth quarter. Banco Santander S.A. now owns 2,281 shares of the shipping service provider's stock valued at $642,000 after purchasing an additional 1,342 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in FedEx by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 78,136 shares of the shipping service provider's stock valued at $21,982,000 after purchasing an additional 1,239 shares during the last quarter. Finally, HM Payson & Co. lifted its stake in FedEx by 121.7% in the fourth quarter. HM Payson & Co. now owns 1,647 shares of the shipping service provider's stock valued at $463,000 after purchasing an additional 904 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were 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 in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is currently owned by insiders.

FedEx Trading Up 1.6%

NYSE FDX traded up $3.80 during trading on Tuesday, hitting $238.89. 1,960,280 shares of the company's stock traded hands, compared to its average volume of 1,856,083. The stock has a fifty day moving average of $223.31 and a two-hundred day moving average of $240.65. 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 12-month low of $194.30 and a 12-month high of $313.84. The firm has a market cap of $57.24 billion, a P/E ratio of 14.15, a PEG ratio of 1.26 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 earnings per share for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the business posted $5.41 earnings per share. As a group, sell-side analysts expect 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. Investors of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.43%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is 34.36%.

Analyst Ratings Changes

Several research firms recently commented on FDX. TD Cowen dropped their price objective on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Susquehanna upped their price objective on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. UBS Group lowered their target price on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Finally, Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $282.46.

About FedEx

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.