Manning & Napier Advisors LLC Decreases Stock Holdings in FedEx Corporation (NYSE:FDX)

Manning & Napier Advisors LLC decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,393 shares of the shipping service provider's stock after selling 14,145 shares during the quarter. Manning & Napier Advisors LLC's holdings in FedEx were worth $12,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Regal Investment Advisors LLC increased its stake in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after acquiring an additional 38 shares during the last quarter. Aviso Financial Inc. increased its stake in FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after acquiring an additional 40 shares during the last quarter. Garner Asset Management Corp increased its position in shares of FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after purchasing an additional 41 shares during the last quarter. Curi RMB Capital LLC increased its position in shares of FedEx by 1.3% during the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after purchasing an additional 47 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of FedEx by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider's stock valued at $749,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Up 1.4%

Shares of FDX stock traded up $3.18 during mid-day trading on Monday, hitting $229.22. The stock had a trading volume of 2,034,062 shares, compared to its average volume of 1,855,096. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84. The firm has a market capitalization of $54.92 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.35. The firm's 50-day moving average is $218.30 and its two-hundred day moving average is $244.32. 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 (NYSE:FDX - Get Free Report) last issued 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). FedEx had a return on equity of 16.00% and a net margin of 4.46%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the company posted $3.86 earnings per share. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is currently 36.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FDX shares. Stephens reissued an "overweight" rating and set a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. Sanford C. Bernstein cut their target price on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and cut their target price for the company from $300.00 to $275.00 in a research report on Monday, March 24th. BMO Capital Markets cut their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Finally, Barclays cut their target price on FedEx from $350.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.54.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.87% of the stock is currently owned by company 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.