Sequoia Financial Advisors LLC Increases Stock Position in FedEx Corporation $FDX

Sequoia Financial Advisors LLC grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 35.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,228 shares of the shipping service provider’s stock after buying an additional 3,723 shares during the period. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Dodge & Cox lifted its stake in shares of FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. Franklin Resources Inc. boosted its holdings in FedEx by 5.9% during the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after buying an additional 269,567 shares in the last quarter. Invesco Ltd. boosted its holdings in FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after buying an additional 108,426 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after buying an additional 1,718,278 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Up 0.6%

FDX stock opened at $378.30 on Friday. The company’s 50 day simple moving average is $370.10 and its 200-day simple moving average is $323.04. The firm has a market capitalization of $90.27 billion, a PE ratio of 20.13, a P/E/G ratio of 1.44 and a beta of 1.29. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. 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 issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $23.44 billion. During the same period in the previous year, the firm posted $4.51 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s payout ratio is 30.87%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of FedEx in a report on Tuesday, May 5th. Susquehanna upped their price target on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a report on Friday, March 20th. Bank of America raised their price objective on FedEx from $431.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Evercore lifted their price objective on FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Finally, Morgan Stanley boosted their target price on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $398.04.

Insider Buying and Selling

In related news, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction dated 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 owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock valued at $17,599,006 over the last three months. Insiders own 0.53% of the company’s stock.

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.