Stratos Wealth Advisors LLC Has $1.68 Million Stock Position in FedEx Corporation (NYSE:FDX)

Stratos Wealth Advisors LLC reduced its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,900 shares of the shipping service provider's stock after selling 2,831 shares during the quarter. Stratos Wealth Advisors LLC's holdings in FedEx were worth $1,682,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake 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 valued at $5,682,727,000 after buying an additional 56,236 shares during the period. Dodge & Cox lifted its stake 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 valued at $3,907,568,000 after buying an additional 734,268 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. lifted its stake 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 valued at $1,209,338,000 after buying an additional 323,115 shares during the period. Finally, Invesco Ltd. lifted its stake 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 valued at $906,165,000 after buying an additional 127,044 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group cut their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Susquehanna raised their price target on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Barclays restated an "overweight" rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Cowen restated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, Bank of America cut their price target on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

Insider Buying and Selling at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director owned 15,513 shares of the company's stock, 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. Insiders own 8.87% of the company's stock.

FedEx Trading Down 0.9%

FDX stock traded down $2.24 during trading on Wednesday, hitting $236.47. The company had a trading volume of 1,937,722 shares, compared to its average volume of 1,856,410. 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 50-day moving average price of $223.89 and a 200-day moving average price of $240.64. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a market cap of $56.66 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.23 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $21.86 billion. During the same quarter in the previous year, the company earned $5.41 EPS. As a group, analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently announced 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. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.45%. FedEx's payout ratio is presently 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.