Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 545,666 shares of the shipping service provider's stock after selling 5,848 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of FedEx worth $133,022,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Transce3nd LLC acquired a new stake in shares of FedEx during the 4th quarter worth about $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx during the fourth quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new stake in FedEx in the 4th quarter valued at $32,000. Accredited Wealth Management LLC bought a new position in FedEx during the 4th quarter worth $35,000. Finally, Optiver Holding B.V. acquired a new stake in FedEx in the 4th quarter worth about $39,000. 84.47% of the stock is owned by institutional investors and hedge funds.
FedEx Trading Up 3.8%
FedEx stock opened at $229.37 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.19. FedEx Corporation has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock has a market cap of $54.96 billion, a P/E ratio of 13.59, a PEG ratio of 1.22 and a beta of 1.35. The firm's fifty day moving average price is $220.19 and its 200-day moving average price is $242.69.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the firm posted $5.41 EPS. Equities research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.
FedEx Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 36.39%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on FDX shares. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, Citigroup reduced their target price on shares of FedEx from $267.00 to $259.00 and set a "buy" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $283.00.
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About FedEx
(
Free Report)
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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