Golden State Equity Partners Reduces Stock Holdings in FedEx Corporation (NYSE:FDX)

Golden State Equity Partners decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 75.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,173 shares of the shipping service provider's stock after selling 3,679 shares during the period. Golden State Equity Partners' holdings in FedEx were worth $286,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FDX. Brighton Jones LLC boosted its stake in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of FedEx during the fourth quarter valued at $227,000. Checchi Capital Advisers LLC boosted its stake in shares of FedEx by 7.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,901 shares of the shipping service provider's stock valued at $535,000 after acquiring an additional 138 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of FedEx during the fourth quarter valued at $95,000. Finally, Heritage Investors Management Corp boosted its stake in shares of FedEx by 1.0% during the fourth quarter. Heritage Investors Management Corp now owns 92,322 shares of the shipping service provider's stock valued at $25,973,000 after acquiring an additional 873 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of analyst reports. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a research note on Friday, March 7th. They set a "buy" rating and a $337.00 price objective on the stock. Cowen reaffirmed a "buy" rating on shares of FedEx in a research note on Wednesday. Oppenheimer reissued a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Finally, Raymond James Financial reissued an "outperform" rating and issued a $260.00 price target (down from $275.00) on shares of FedEx in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.17.

FedEx Trading Up 3.8%

Shares of FedEx stock traded up $8.30 during trading hours on Friday, reaching $229.37. The stock had a trading volume of 4,051,499 shares, compared to its average volume of 1,856,792. The firm has a market capitalization of $54.96 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.13 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a 50 day simple moving average of $219.75 and a two-hundred day simple moving average of $243.30.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period last year, the business posted $5.41 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio (DPR) is presently 36.39%.

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.