Financial Partners Group LLC Decreases Stock Holdings in FedEx Corporation (NYSE:FDX)

Financial Partners Group LLC lessened its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,835 shares of the shipping service provider's stock after selling 1,893 shares during the period. FedEx makes up about 3.7% of Financial Partners Group LLC's portfolio, making the stock its 10th largest holding. Financial Partners Group LLC's holdings in FedEx were worth $8,492,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Five Oceans Advisors raised its position in FedEx by 29.0% during the first quarter. Five Oceans Advisors now owns 1,031 shares of the shipping service provider's stock valued at $251,000 after purchasing an additional 232 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of FedEx by 2.8% in the 1st quarter. Cardinal Capital Management now owns 16,934 shares of the shipping service provider's stock valued at $4,151,000 after purchasing an additional 461 shares in the last quarter. Inscription Capital LLC bought a new position in shares of FedEx in the 1st quarter valued at $395,000. Grimes & Company Inc. raised its holdings in shares of FedEx by 16.2% during the 1st quarter. Grimes & Company Inc. now owns 1,076 shares of the shipping service provider's stock worth $262,000 after buying an additional 150 shares in the last quarter. Finally, Sentry LLC lifted its position in shares of FedEx by 11.9% during the 1st quarter. Sentry LLC now owns 1,362,385 shares of the shipping service provider's stock worth $332,122,000 after buying an additional 145,268 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Barclays reduced their price target on shares of FedEx from $350.00 to $330.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price target on the stock. Loop Capital downgraded shares of FedEx from a "hold" rating to a "sell" rating and dropped their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Finally, Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.54.

FedEx Price Performance

Shares of FDX opened at $222.51 on Wednesday. The business has a 50-day moving average of $217.49 and a 200-day moving average of $245.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The company has a market capitalization of $53.31 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.46% and a return on equity of 16.00%. The firm had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.61%. FedEx's dividend payout ratio is 34.63%.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is owned by insiders.

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.

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