Rehmann Capital Advisory Group Reduces Holdings in FedEx Corporation (NYSE:FDX)

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

Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Norges Bank purchased a new position in FedEx during the fourth quarter worth $807,352,000. Dodge & Cox boosted its stake 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. GAMMA Investing LLC boosted its stake in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after buying an additional 542,605 shares during the period. Capital Research Global Investors purchased a new stake in shares of FedEx during the fourth quarter valued at $145,733,000. Finally, Franklin Resources Inc. grew 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. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target on the stock in a report on Thursday, July 3rd. BMO Capital Markets cut their price target on shares of 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 upped their price target on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, Bank of America dropped their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $283.25.

Insiders Place Their Bets

In other FedEx news, 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 transaction of $855,353.40. Following the completion of the transaction, the director directly owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of FedEx stock opened at $236.47 on Thursday. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $56.66 billion, a P/E ratio of 14.01, a PEG ratio of 1.25 and a beta of 1.35. The company has a 50 day moving average price of $224.41 and a 200 day moving average price of $240.61.

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

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.45%. FedEx's dividend payout ratio (DPR) is currently 34.36%.

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.

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