Sowell Financial Services LLC Takes $1.87 Million Position in FedEx Corporation (NYSE:FDX)

Sowell Financial Services LLC bought a new position in FedEx Corporation (NYSE:FDX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,672 shares of the shipping service provider's stock, valued at approximately $1,870,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of FedEx by 16.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 86,344 shares of the shipping service provider's stock valued at $21,049,000 after purchasing an additional 12,283 shares during the period. Mission Wealth Management LP lifted its stake in FedEx by 2.0% in the first quarter. Mission Wealth Management LP now owns 4,200 shares of the shipping service provider's stock valued at $1,024,000 after buying an additional 83 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in shares of FedEx by 9.7% in the first quarter. North Star Investment Management Corp. now owns 791 shares of the shipping service provider's stock valued at $193,000 after buying an additional 70 shares during the period. Asio Capital LLC increased its position in shares of FedEx by 0.9% during the first quarter. Asio Capital LLC now owns 22,826 shares of the shipping service provider's stock worth $5,596,000 after acquiring an additional 207 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of FedEx by 60.0% during the first quarter. Exchange Traded Concepts LLC now owns 576 shares of the shipping service provider's stock worth $140,000 after acquiring an additional 216 shares during the period. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. Raymond James Financial reduced their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. UBS Group reduced their price objective on FedEx from $331.00 to $311.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Wells Fargo & Company decreased their price objective on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Barclays cut their target price on FedEx from $350.00 to $330.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 3rd. Finally, Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $292.54.

FedEx Stock Performance

FDX traded up $0.54 during trading on Thursday, hitting $223.07. The stock had a trading volume of 1,517,523 shares, compared to its average volume of 1,856,460. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The company has a 50 day moving average price of $217.59 and a 200-day moving average price of $245.73. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The firm has a market cap of $53.45 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.06 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last announced its 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). FedEx had a net margin of 4.46% and a return on equity of 16.00%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm posted $3.86 EPS. The company's revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is 36.39%.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.87% of the company's stock.

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.