Concurrent Investment Advisors LLC Raises Stake in FedEx Corporation (NYSE:FDX)

Concurrent Investment Advisors LLC raised its position in FedEx Corporation (NYSE:FDX - Free Report) by 53.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,729 shares of the shipping service provider's stock after buying an additional 1,303 shares during the quarter. Concurrent Investment Advisors LLC's holdings in FedEx were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Norges Bank acquired a new position in FedEx in the 4th quarter valued at $807,352,000. Dodge & Cox grew its holdings in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of FedEx by 18,202.1% during the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after purchasing an additional 542,605 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx during the 4th quarter worth $145,733,000. Finally, Franklin Resources Inc. grew its holdings in shares of FedEx by 8.1% during the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

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

FedEx Stock Down 1.1%

Shares of NYSE:FDX traded down $2.68 during trading on Friday, reaching $236.05. 1,667,283 shares of the stock were exchanged, compared to its average volume of 1,861,613. 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 1-year low of $194.30 and a 1-year high of $313.84. The stock has a fifty day moving average of $225.31 and a two-hundred day moving average of $240.15. The firm has a market cap of $56.56 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35.

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

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is 34.36%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FDX. Susquehanna increased their target price on FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $260.00 price objective (down from $275.00) on shares of FedEx in a research note on Wednesday, June 25th. Sanford C. Bernstein reduced their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Finally, TD Cowen reduced 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. Two investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $283.25.

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.