FedEx Corporation (NYSE:FDX) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP reduced its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 43.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,075 shares of the shipping service provider's stock after selling 1,600 shares during the period. Klingenstein Fields & Co. LP's holdings in FedEx were worth $506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in shares of FedEx during the fourth quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in FedEx in the fourth quarter valued at $28,000. Runnymede Capital Advisors Inc. bought a new position in FedEx during the 4th quarter valued at $32,000. Accredited Wealth Management LLC acquired a new position in FedEx during the 4th quarter worth $35,000. Finally, Optiver Holding B.V. bought a new stake in shares of FedEx in the 4th quarter worth about $39,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

FDX stock traded up $4.67 on Wednesday, reaching $239.00. The company's stock had a trading volume of 2,494,993 shares, compared to its average volume of 1,845,267. The firm has a fifty day moving average of $221.18 and a two-hundred day moving average of $241.96. 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 market capitalization of $57.26 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.19 and a beta of 1.35. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84.

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

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx's payout ratio is 36.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FDX shares. Oppenheimer restated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. BMO Capital Markets decreased 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. TD Cowen dropped their price target on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Finally, Citigroup reduced their price objective on FedEx from $267.00 to $259.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $283.00.

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.