FedEx Corporation $FDX Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its position in FedEx Corporation (NYSE:FDX) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,862 shares of the shipping service provider’s stock after selling 1,521 shares during the period. Meridian Investment Counsel Inc.’s holdings in FedEx were worth $3,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Grey Fox Wealth Advisors LLC acquired a new stake in shares of FedEx in the 3rd quarter worth $27,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $28,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx during the third quarter worth about $28,000. Ameriflex Group Inc. raised its holdings in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Ulland Investment Advisors LLC purchased a new position in FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Barclays increased their target price on FedEx from $360.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Raymond James Financial raised their price target on FedEx from $305.00 to $410.00 and gave the company an “outperform” rating in a report on Friday, February 13th. BMO Capital Markets lifted their price target on FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Finally, Wells Fargo & Company upped their price objective on FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $393.85.

FedEx Trading Down 0.1%

Shares of FDX opened at $361.42 on Friday. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $392.86. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $86.24 billion, a P/E ratio of 19.23, a PEG ratio of 1.59 and a beta of 1.28. The firm’s 50-day moving average is $360.43 and its two-hundred day moving average is $300.25.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $4.51 EPS. On average, research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were issued a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.6%. FedEx’s payout ratio is currently 30.87%.

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.