FedEx Corporation (NYSE:FDX) Stake Lessened by Grandfield & Dodd LLC

Grandfield & Dodd LLC decreased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 60.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,009 shares of the shipping service provider's stock after selling 3,120 shares during the period. Grandfield & Dodd LLC's holdings in FedEx were worth $490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after buying an additional 207 shares during the period. Corient Private Wealth LLC raised its stake in shares of FedEx by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 120,500 shares of the shipping service provider's stock valued at $33,902,000 after purchasing an additional 404 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of FedEx by 27.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 773 shares of the shipping service provider's stock worth $218,000 after purchasing an additional 166 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of FedEx by 15.5% in the fourth quarter. Cibc World Markets Corp now owns 35,788 shares of the shipping service provider's stock valued at $10,068,000 after purchasing an additional 4,792 shares during the period. Finally, Curio Wealth LLC acquired a new stake in FedEx during the 4th quarter valued at $45,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of FedEx 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. The trade was a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock valued at $2,228,816 over the last three months. Company insiders own 8.87% of the company's stock.

FedEx Price Performance

Shares of FDX stock traded down $0.25 during midday trading on Thursday, reaching $228.50. 846,531 shares of the company were exchanged, compared to its average volume of 1,851,402. The company's 50 day moving average price is $226.27 and its two-hundred day moving average price is $239.21. The company has a market cap of $54.75 billion, a P/E ratio of 13.55, a PEG ratio of 1.21 and a beta of 1.35. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

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, topping the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analysts' expectations 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 company earned $5.41 earnings per share. On average, sell-side analysts expect that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a dividend of $1.45 per share. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.54%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of analyst reports. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and dropped their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. TD Cowen reduced their target price on FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Finally, Stifel Nicolaus set a $315.00 target price on shares of FedEx in a research report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

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.