QRG Capital Management Inc. Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

QRG Capital Management Inc. reduced its stake in FedEx Co. (NYSE:FDX - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,306 shares of the shipping service provider's stock after selling 1,136 shares during the quarter. QRG Capital Management Inc.'s holdings in FedEx were worth $17,627,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $234,028,000. Dodge & Cox lifted its holdings in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after buying an additional 734,268 shares during the period. GAMMA Investing LLC lifted its holdings in shares of FedEx by 18,202.1% in the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after buying an additional 542,605 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $145,733,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

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

FedEx Stock Performance

FedEx stock opened at $226.52 on Tuesday. The firm has a market capitalization of $54.27 billion, a P/E ratio of 14.44, a PEG ratio of 1.11 and a beta of 1.35. The stock has a fifty day moving average price of $217.40 and a 200 day moving average price of $246.05. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.86 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is 36.39%.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. TD Cowen reduced their price target on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Raymond James reduced their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Wall Street Zen cut FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Cfra Research raised FedEx to a "hold" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $292.54.

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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