Focus Partners Wealth Purchases 37,407 Shares of FedEx Corporation $FDX

Focus Partners Wealth increased its position in FedEx Corporation (NYSE:FDX) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,122 shares of the shipping service provider’s stock after purchasing an additional 37,407 shares during the period. Focus Partners Wealth’s holdings in FedEx were worth $66,407,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fort Point Capital Partners LLC bought a new position in shares of FedEx in the 4th quarter worth $523,000. KCM Investment Advisors LLC lifted its holdings in shares of FedEx by 2.4% in the 4th quarter. KCM Investment Advisors LLC now owns 7,040 shares of the shipping service provider’s stock worth $2,034,000 after purchasing an additional 165 shares in the last quarter. Dockside LLC bought a new position in shares of FedEx in the 4th quarter worth $1,584,000. Ariadne Wealth Management LP lifted its holdings in shares of FedEx by 8.1% in the 4th quarter. Ariadne Wealth Management LP now owns 2,598 shares of the shipping service provider’s stock worth $750,000 after purchasing an additional 195 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new position in shares of FedEx in the 4th quarter worth $18,920,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. This trade represents a 36.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent research reports. Argus increased their target price on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. BNP Paribas Exane lowered their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Rothschild & Co Redburn lowered their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Wolfe Research lowered their price target on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, BMO Capital Markets lowered their price target on FedEx from $410.00 to $340.00 and set a “market perform” rating for the company in a research report on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $371.45.

FedEx Trading Down 0.1%

Shares of FedEx stock opened at $338.12 on Tuesday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.37. The firm has a market cap of $80.68 billion, a PE ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.28. The stock has a fifty day moving average price of $371.37 and a 200-day moving average price of $343.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same period last year, the firm posted $4.51 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that FedEx Corporation will post 19.78 EPS for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

FedEx Profile

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.