Rathbones Group PLC lessened its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 7.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,813 shares of the shipping service provider’s stock after selling 1,673 shares during the quarter. Rathbones Group PLC’s holdings in FedEx were worth $7,769,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Parallel Advisors LLC lifted its holdings in FedEx by 2.3% in the first quarter. Parallel Advisors LLC now owns 9,268 shares of the shipping service provider’s stock worth $3,301,000 after acquiring an additional 206 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of FedEx by 10.6% during the first quarter. NewEdge Advisors LLC now owns 19,730 shares of the shipping service provider’s stock valued at $7,027,000 after purchasing an additional 1,891 shares during the last quarter. Caerus Investment Advisors LLC raised its position in shares of FedEx by 1.1% during the 1st quarter. Caerus Investment Advisors LLC now owns 5,172 shares of the shipping service provider’s stock worth $1,842,000 after purchasing an additional 57 shares during the period. First Nebraska Trust Co acquired a new stake in shares of FedEx during the 1st quarter worth approximately $10,675,000. Finally, Asset Dedication LLC lifted its holdings in shares of FedEx by 60.7% in the 1st quarter. Asset Dedication LLC now owns 450 shares of the shipping service provider’s stock worth $160,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.
Insider Transactions at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on FDX
FedEx Trading Up 0.6%
Shares of NYSE:FDX opened at $309.25 on Tuesday. The company has a 50 day moving average of $326.98 and a 200-day moving average of $350.42. The firm has a market cap of $73.17 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.58 and a beta of 1.30. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. As a group, analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 26.36%.
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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