FedEx Corporation (NYSE:FDX) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its holdings in FedEx by 3.3%, now owning 371,791 shares valued at approximately $90.63 million.
• FedEx's recent quarterly earnings report showed earnings per share of $6.07, exceeding analyst estimates of $5.98, with revenues of $22.20 billion.
• The company announced a quarterly dividend of $1.45 per share, resulting in an annualized dividend of $5.80, reflecting a dividend yield of 2.5%.

Russell Investments Group Ltd. trimmed its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 371,791 shares of the shipping service provider's stock after selling 12,501 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of FedEx worth $90,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of FedEx by 1.4% in the first quarter. Vanguard Group Inc. now owns 20,489,161 shares of the shipping service provider's stock worth $4,994,848,000 after buying an additional 289,655 shares during the period. Dodge & Cox raised its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the period. Invesco Ltd. raised its holdings in shares of FedEx by 1.4% in the first quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock worth $795,940,000 after buying an additional 43,989 shares during the period. Northern Trust Corp increased its holdings 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 purchasing an additional 273,478 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 19,795 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The stock was 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 of the company's stock, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is owned by company insiders.

FedEx Stock Up 0.3%

Shares of FedEx stock traded up $0.80 during trading on Thursday, reaching $231.30. The company's stock had a trading volume of 1,615,778 shares, compared to its average volume of 1,979,591. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a market cap of $54.56 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.20 and a beta of 1.30. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a 50-day simple moving average of $229.27 and a two-hundred day simple moving average of $232.45.

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, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter last year, the firm earned $5.41 EPS. As a group, equities analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the company. Cowen restated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Susquehanna raised their price objective on FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. raised their price objective on FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Barclays restated an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Finally, UBS Group reduced their price objective on FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $283.25.

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.