Nisa Investment Advisors LLC Reduces Position in FedEx Corporation (NYSE:FDX)

Nisa Investment Advisors LLC reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,117 shares of the shipping service provider's stock after selling 40,039 shares during the quarter. Nisa Investment Advisors LLC's holdings in FedEx were worth $19,645,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of FedEx by 0.3% in 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 purchasing an additional 56,236 shares during the period. Dodge & Cox lifted its holdings in FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the period. Geode Capital Management LLC boosted its position in FedEx by 2.3% during the 4th 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 8.1% in the 4th 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. raised its position in shares of FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of NYSE:FDX traded down $2.68 during trading on Friday, hitting $236.05. 1,667,283 shares of the stock traded hands, compared to its average volume of 1,859,949. The company has a fifty day moving average price of $225.31 and a two-hundred day moving average price of $240.15. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a market cap of $56.56 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.25 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last posted its 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. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period in the prior year, the company posted $5.41 EPS. As a group, equities analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.46%. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio is presently 34.36%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FDX shares. Citigroup lifted their target price on FedEx from $259.00 to $278.00 and gave the company a "buy" rating in a research note on Wednesday. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and reduced their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Stephens restated an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. Susquehanna upped their price target on FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen cut FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

Insider Activity

In related news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the 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 transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last quarter. 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.