Institute for Wealth Management LLC. Acquires 1,242 Shares of FedEx Corporation (NYSE:FDX)

Institute for Wealth Management LLC. grew its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,311 shares of the shipping service provider's stock after purchasing an additional 1,242 shares during the quarter. Institute for Wealth Management LLC.'s holdings in FedEx were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Vanguard Group Inc. lifted its position in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Dodge & Cox raised its stake in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. Geode Capital Management LLC lifted its holdings in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. lifted its holdings in FedEx by 8.1% in 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. Finally, Invesco Ltd. boosted its position in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after purchasing an additional 127,044 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX stock opened at $223.07 on Thursday. The stock has a market cap of $53.45 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The stock has a 50-day moving average of $217.59 and a 200-day moving average of $245.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The business's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.86 earnings per share. As a group, 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 disclosed 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. The ex-dividend date is Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.60%. FedEx's dividend payout ratio (DPR) is presently 36.39%.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. 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 report on Monday, May 19th. Barclays decreased their price target on shares of FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday, June 3rd. Raymond James Financial dropped their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Finally, Wells Fargo & Company decreased their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Two investment 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 stock. According to MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.54.

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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