Petros Family Wealth LLC Has $277,000 Stock Holdings in FedEx Corporation (NYSE:FDX)

Petros Family Wealth LLC trimmed its stake in shares of FedEx Corporation (NYSE:FDX) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136 shares of the shipping service provider’s stock after selling 155 shares during the quarter. Petros Family Wealth LLC’s holdings in FedEx were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Regal Investment Advisors LLC increased its position in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 38 shares in the last quarter. Aviso Financial Inc. increased its position in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after purchasing an additional 40 shares in the last quarter. Garner Asset Management Corp increased its position in FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. Curi RMB Capital LLC increased its position in FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock valued at $1,017,000 after acquiring an additional 47 shares during the period. Finally, Quadrant Capital Group LLC increased its position in FedEx by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider’s stock valued at $749,000 after acquiring an additional 50 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

FDX opened at $229.22 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company’s fifty day moving average price is $218.67 and its two-hundred day moving average price is $243.96. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a market cap of $54.92 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.08 and a beta of 1.35.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This is an increase from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.53%. FedEx’s dividend payout ratio is presently 36.39%.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and decreased their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Stifel Nicolaus decreased their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and decreased their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. 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 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 assigned a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $292.54.

FedEx 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.