LPL Financial LLC Has $88.91 Million Position in FedEx Corporation (NYSE:FDX)

Key Points

• LPL Financial LLC increased its holdings in FedEx by 10.5%, purchasing an additional 34,656 shares, bringing their total to 364,720 shares valued at approximately $88.9 million.
• FedEx recently declared a quarterly dividend of $1.45, up from $1.38, reflecting an annual yield of 2.47% and a payout ratio of 34.36%.
• Shares of FedEx are currently trading lower, with a 3.3% decrease in value, and the stock is positioned between a 52-week low of $194.29 and a high of $308.53.

LPL Financial LLC increased its position in FedEx Corporation (NYSE:FDX - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 364,720 shares of the shipping service provider's stock after purchasing an additional 34,656 shares during the period. LPL Financial LLC owned 0.15% of FedEx worth $88,911,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FDX. Transce3nd LLC acquired a new position in FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Accredited Wealth Management LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $35,000. Abound Financial LLC bought a new stake in shares of FedEx during the first quarter valued at approximately $38,000. Finally, Optiver Holding B.V. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $39,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FDX shares. BMO Capital Markets cut their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Raymond James Financial reaffirmed an "outperform" rating and set a $260.00 price target (down previously from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Wall Street Zen raised FedEx from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Stephens reissued an "overweight" rating and set a $300.00 target price on shares of FedEx in a report on Tuesday, May 20th. Finally, Stifel Nicolaus set a $315.00 target price on FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

FedEx Trading Down 0.2%

NYSE FDX traded down $0.47 on Thursday, hitting $223.39. 2,296,210 shares of the stock were exchanged, compared to its average volume of 1,856,720. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53. 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 $52.70 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 1.17 and a beta of 1.35. The company's 50-day moving average price is $227.85 and its two-hundred day moving average price is $235.89.

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

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.6%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend 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 on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction 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 sale, the director directly owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock worth $2,228,816 in the last ninety days. Corporate insiders own 8.87% of the company's stock.

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.