Northwestern Mutual Wealth Management Co. Has $8.02 Million Stock Holdings in FedEx Corporation $FDX

Key Points

• Northwestern Mutual Wealth Management cut its FedEx stake by 38.9% in the second quarter, selling 16,284 shares and retaining 25,621 shares valued at approximately $8.02 million.
• Analysts maintain a generally positive outlook, with FedEx receiving a consensus “Moderate Buy” rating and an average price target of $350.54, despite several recent target reductions.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share, while declaring a quarterly dividend of $1.22, equivalent to a 1.5% annual yield.

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 38.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,621 shares of the shipping service provider's stock after selling 16,284 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in FedEx were worth $8,023,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. increased its position in shares of FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock worth $296,000 after acquiring an additional 26 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock worth $491,000 after purchasing an additional 29 shares during the period. Whipplewood Advisors LLC boosted its stake in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after purchasing an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its holdings in FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. BMO Capital Markets restated a "market perform" rating on shares of FedEx in a report on Wednesday, June 24th. Rothschild & Co Redburn dropped their target price on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Barclays cut their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Wall Street Zen raised FedEx to a "hold" rating in a research report on Saturday, August 8th. Finally, Raymond James Financial set a $330.00 price target on shares of FedEx in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Stock Down 2.7%

NYSE:FDX opened at $316.15 on Thursday. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36. The firm has a market capitalization of $74.82 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average price is $319.39 and its two-hundred day moving average price is $349.65.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Equities research analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx's dividend payout ratio is 26.36%.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by insiders.

FedEx Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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