FedEx Corporation (NYSE:FDX) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,923 shares of the shipping service provider's stock after selling 2,262 shares during the period. Stratos Wealth Partners LTD.'s holdings in FedEx were worth $2,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in FedEx by 21.1% during the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after purchasing an additional 63 shares in the last quarter. NBC Securities Inc. acquired a new position in FedEx in the 1st quarter valued at about $147,000. Farther Finance Advisors LLC increased its stake in shares of 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 during the last quarter. Allianz SE acquired a new position in shares of FedEx during the 4th quarter valued at about $18,342,000. Finally, Parvin Asset Management LLC acquired a new stake in FedEx during the 4th quarter worth approximately $281,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Insiders Place Their Bets

In other news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the transaction, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is currently owned by insiders.

FedEx Stock Down 0.9%

Shares of FDX traded down $2.19 during mid-day trading on Monday, reaching $233.87. The company had a trading volume of 1,416,463 shares, compared to its average volume of 1,859,898. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The firm has a 50-day moving average price of $225.31 and a 200 day moving average price of $239.66. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a market capitalization of $56.04 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm 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 EPS. On average, sell-side analysts forecast that FedEx Corporation will post 19.14 EPS 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 issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.48%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio (DPR) is presently 34.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FDX shares. Bank of America decreased their price objective on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Cfra Research raised FedEx to a "hold" rating in a research note on Thursday, March 20th. Stifel Nicolaus set a $315.00 price objective on FedEx in a report on Wednesday, June 25th. Susquehanna increased their price objective on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Finally, Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.