Parkside Investments LLC Sells 1,736 Shares of FedEx Co. (NYSE:FDX)

Parkside Investments LLC cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,259 shares of the shipping service provider's stock after selling 1,736 shares during the quarter. Parkside Investments LLC's holdings in FedEx were worth $5,182,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 0.3% in the fourth 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 last quarter. Dodge & Cox increased its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings 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 worth $906,165,000 after purchasing an additional 127,044 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FDX shares. UBS Group reduced their target price on FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Wells Fargo & Company reduced their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Finally, Bank of America dropped their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.54.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is owned by company insiders.

FedEx Trading Up 1.0%

Shares of NYSE:FDX traded up $2.14 during trading hours on Monday, hitting $226.52. 1,902,370 shares of the company's stock traded hands, compared to its average volume of 1,854,289. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $54.27 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The business has a fifty day moving average price of $217.40 and a 200-day moving average price of $246.05. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.86 EPS. Equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.56%. FedEx's payout ratio is presently 36.39%.

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.