Gulf International Bank UK Ltd Sells 5,087 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Gulf International Bank UK Ltd reduced its stake in FedEx Corporation by 27.2% in Q1, owning 13,590 shares worth approximately $3.31 million after selling 5,087 shares.
• FedEx's stock has a consensus rating of "Moderate Buy", with an average target price of $283.25, following various analysts' updates on the stock's ratings and target prices.
• The company announced a quarterly dividend of $1.45 per share, with an annualized dividend yield of 2.5%, to be paid to stockholders on October 1st.

Gulf International Bank UK Ltd decreased its stake in FedEx Corporation (NYSE:FDX - Free Report) by 27.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,590 shares of the shipping service provider's stock after selling 5,087 shares during the period. Gulf International Bank UK Ltd's holdings in FedEx were worth $3,312,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Transce3nd LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $35,000. Abound Financial LLC acquired a new stake in shares of FedEx in the first quarter valued at about $38,000. Optiver Holding B.V. acquired a new stake in shares of FedEx in the fourth quarter valued at about $39,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at about $43,000. Institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen lowered their target price on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price for the company in a research note on Thursday, July 3rd. BMO Capital Markets cut their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Sanford C. Bernstein cut their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $283.25.

FedEx Stock Performance

Shares of NYSE:FDX opened at $230.44 on Thursday. The company's 50 day moving average price is $228.97 and its two-hundred day moving average price is $232.79. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53. The firm has a market cap of $54.36 billion, a PE ratio of 13.65, a PEG ratio of 1.20 and a beta of 1.30. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last issued 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 company had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period in the previous year, the company earned $5.41 EPS. Equities research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a $1.45 dividend. The ex-dividend date is Monday, September 8th. This represents a $5.80 annualized dividend and a dividend yield of 2.5%. FedEx's payout ratio is presently 34.36%.

Insider Activity

In other news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction 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. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is currently owned by corporate insiders.

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.

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