Sound View Wealth Advisors Group LLC Sells 62 Shares of FedEx Corporation (NYSE:FDX)

Sound View Wealth Advisors Group LLC decreased its position in shares of FedEx Corporation (NYSE:FDX) by 4.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,345 shares of the shipping service provider’s stock after selling 62 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in FedEx were worth $328,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dodge & Cox grew its holdings in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. Invesco Ltd. boosted its position in shares of FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after purchasing an additional 127,044 shares in the last quarter. Northern Trust Corp boosted its position in shares of FedEx by 13.1% in the 4th quarter. Northern Trust Corp now owns 2,357,017 shares of the shipping service provider’s stock worth $663,100,000 after purchasing an additional 273,478 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of FedEx by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,192,801 shares of the shipping service provider’s stock worth $616,892,000 after buying an additional 19,795 shares in the last quarter. Finally, ACR Alpine Capital Research LLC grew its stake in shares of FedEx by 85.9% in the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider’s stock worth $386,399,000 after acquiring an additional 732,266 shares during the period. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Wednesday, June 25th. Citigroup boosted their price target on FedEx from $259.00 to $278.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. UBS Group cut their price objective on shares of FedEx from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price objective on FedEx in a report on Wednesday, June 25th. Finally, Sanford C. Bernstein lowered their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $283.25.

FedEx Stock Down 2.9%

Shares of NYSE FDX opened at $217.02 on Friday. 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 business’s 50 day moving average is $227.85 and its two-hundred day moving average is $235.48. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53. The firm has a market cap of $51.20 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.16 and a beta of 1.30.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) 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 the consensus estimate of $21.86 billion. During the same quarter in the previous year, the business earned $5.41 EPS. Research analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders 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. This represents a $5.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, June 23rd. FedEx’s dividend payout ratio is currently 34.36%.

Insider Transactions at FedEx

In related news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is currently owned by corporate insiders.

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.