FedEx Corporation (NYSE:FDX) Stock Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,967 shares of the shipping service provider's stock after acquiring an additional 16,490 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in FedEx were worth $22,664,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FDX. Transce3nd LLC purchased a new position in FedEx during the fourth quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the 4th quarter worth $28,000. Runnymede Capital Advisors Inc. purchased a new position in shares of FedEx in the 4th quarter worth $32,000. Accredited Wealth Management LLC acquired a new position in FedEx in the fourth quarter valued at $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx during the fourth quarter valued at about $39,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FDX. Bank of America cut their price objective on FedEx from $272.00 to $270.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. UBS Group reduced their price target on shares of FedEx from $331.00 to $311.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Citigroup decreased their price objective on shares of FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They issued a "buy" rating and a $337.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $292.54.

FedEx Stock Up 1.4%

Shares of FDX stock traded up $3.18 during trading hours on Monday, hitting $229.22. 2,034,062 shares of the company were exchanged, compared to its average volume of 1,855,096. The stock has a market capitalization of $54.92 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.08 and a beta of 1.35. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The business's 50-day simple moving average is $218.30 and its two-hundred day simple moving average is $244.32. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 16.00% and a net margin of 4.46%. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the prior year, the business earned $3.86 EPS. The company's quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. FedEx's payout ratio is 34.63%.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was 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 approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.87% of the company's stock.

FedEx Company Profile

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.