Focused Investors LLC Sells 11,200 Shares of FedEx Corporation (NYSE:FDX)

Focused Investors LLC trimmed its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 483,400 shares of the shipping service provider's stock after selling 11,200 shares during the period. FedEx accounts for about 3.8% of Focused Investors LLC's holdings, making the stock its 11th biggest holding. Focused Investors LLC owned 0.20% of FedEx worth $117,843,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FDX. Norges Bank purchased a new position in shares of FedEx during the 4th quarter worth $807,352,000. Dodge & Cox increased its position 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 during the last quarter. GAMMA Investing LLC increased its position 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 during the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx during the 4th quarter worth about $145,733,000. Finally, Franklin Resources Inc. increased its position 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 during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares in the company, valued at $1,829,176.80. This trade represents a 31.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,343 shares of company stock valued at $2,228,816. Corporate insiders own 8.87% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on FDX. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. UBS Group dropped their target price on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Wells Fargo & Company lifted their target price on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Susquehanna lifted their target price on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Finally, BMO Capital Markets dropped their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Stock Performance

NYSE:FDX traded down $1.89 during midday trading on Wednesday, reaching $228.77. 1,893,776 shares of the company traded hands, compared to its average volume of 1,858,671. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. The firm has a market capitalization of $54.81 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The company has a fifty day moving average price of $226.00 and a 200 day moving average price of $239.28.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the previous year, the firm posted $5.41 EPS. On average, analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 34.36%.

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.