New South Capital Management Inc. Sells 10,258 Shares of FedEx Corporation (NYSE:FDX)

New South Capital Management Inc. lessened its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,280 shares of the shipping service provider's stock after selling 10,258 shares during the period. FedEx accounts for about 1.9% of New South Capital Management Inc.'s investment portfolio, making the stock its 18th biggest holding. New South Capital Management Inc. owned approximately 0.07% of FedEx worth $39,317,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of FedEx by 0.3% during the 4th 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 period. Dodge & Cox lifted its position in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Geode Capital Management LLC boosted its holdings in FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the period. Franklin Resources Inc. boosted its holdings in FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares during the period. Finally, Invesco Ltd. grew its position in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after purchasing an additional 127,044 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on FDX shares. Citigroup decreased their target price on FedEx from $267.00 to $259.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. BMO Capital Markets reduced their price objective 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. Bank of America dropped their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Susquehanna raised their price target on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Finally, Sanford C. Bernstein cut their price objective on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $282.46.

FedEx Price Performance

FedEx stock traded up $1.74 during trading hours on Friday, hitting $240.88. 2,410,389 shares of the stock were exchanged, compared to its average volume of 1,851,340. The stock has a market capitalization of $57.71 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.26 and a beta of 1.35. The business's 50-day moving average is $222.83 and its two-hundred day moving average is $241.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 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 business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the business earned $5.41 EPS. Equities research analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders 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 represents a $5.80 dividend on an annualized basis and a yield of 2.41%. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 34.36%.

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.