Rehmann Capital Advisory Group Sells 1,190 Shares of FedEx Corporation (NYSE:FDX)

Rehmann Capital Advisory Group trimmed its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 25.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,495 shares of the shipping service provider's stock after selling 1,190 shares during the period. Rehmann Capital Advisory Group's holdings in FedEx were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FDX. Brighton Jones LLC increased its position in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of FedEx during the 4th quarter worth $56,065,000. Daiwa Securities Group Inc. lifted its stake in shares of FedEx by 7.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 30,636 shares of the shipping service provider's stock worth $8,619,000 after purchasing an additional 2,077 shares during the period. Johnson Investment Counsel Inc. increased its holdings in shares of FedEx by 16.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,900 shares of the shipping service provider's stock worth $1,097,000 after buying an additional 546 shares during the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in FedEx by 12.0% in the 4th quarter. Sage Mountain Advisors LLC now owns 1,182 shares of the shipping service provider's stock valued at $332,000 after purchasing an additional 127 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX traded up $2.29 during trading on Thursday, hitting $238.80. The company's stock had a trading volume of 1,940,348 shares, compared to its average volume of 1,859,153. The firm's 50 day moving average price is $224.41 and its two-hundred day moving average price is $240.61. 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 Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a market capitalization of $57.22 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the previous year, the company posted $5.41 EPS. Sell-side analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, June 23rd. FedEx's dividend payout ratio is currently 34.36%.

Insider Activity at FedEx

In related news, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction that occurred 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,343 shares of company stock valued at $2,228,816. Insiders own 8.87% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Citigroup increased their price target on shares of FedEx from $259.00 to $278.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Cowen restated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Finally, Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $283.25.

About FedEx

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.