Mcdaniel Terry & Co. Sells 94,012 Shares of FedEx Corporation (NYSE:FDX)

Mcdaniel Terry & Co. decreased its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 78.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,046 shares of the shipping service provider's stock after selling 94,012 shares during the quarter. Mcdaniel Terry & Co.'s holdings in FedEx were worth $6,349,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC acquired a new stake in FedEx in the fourth quarter worth about $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx in the fourth quarter worth about $28,000. Runnymede Capital Advisors Inc. purchased a new position in shares of FedEx in the fourth quarter worth about $32,000. Accredited Wealth Management LLC purchased a new position in shares of FedEx in the fourth quarter worth about $35,000. Finally, Optiver Holding B.V. purchased a new position in shares of FedEx in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and dropped their price objective for the company from $283.00 to $221.00 in a report on Friday, March 21st. Sanford C. Bernstein lowered their price target on FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. Barclays reissued an "overweight" rating and set a $320.00 price objective (down previously from $330.00) on shares of FedEx in a research note on Wednesday. Cowen restated a "buy" rating on shares of FedEx in a research report on Wednesday. Finally, TD Cowen reduced 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus price target of $283.00.

FedEx Price Performance

Shares of FedEx stock opened at $229.37 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $54.96 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.18 and a beta of 1.35. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The firm's 50-day moving average price is $220.19 and its two-hundred day moving average price is $242.96.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly 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. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. On average, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm 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 $1.45 dividend. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is currently 36.39%.

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.

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