Blue Trust Inc. Has $193,000 Stock Holdings in FedEx Corporation (NYSE:FDX)

Blue Trust Inc. lessened its stake in shares of FedEx Corporation (NYSE:FDXFree Report) by 6.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 793 shares of the shipping service provider’s stock after selling 59 shares during the quarter. Blue Trust Inc.’s holdings in FedEx were worth $193,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FDX. Norges Bank bought a new position in FedEx during the fourth quarter worth about $807,352,000. Raymond James Financial Inc. bought a new position in FedEx during the fourth quarter worth about $234,028,000. Dodge & Cox increased its position in FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the period. GAMMA Investing LLC increased its position in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock worth $133,003,000 after acquiring an additional 542,605 shares during the period. Finally, Capital Research Global Investors bought a new position in FedEx during the fourth quarter worth about $145,733,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.1%

Shares of NYSE FDX opened at $229.06 on Wednesday. The company’s 50 day moving average price is $219.11 and its 200-day moving average price is $243.86. The company has a market capitalization of $54.88 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same quarter in the previous year, the business posted $5.41 EPS. Equities analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, June 23rd. FedEx’s payout ratio is currently 36.39%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FDX shares. UBS Group lowered their price target on shares of FedEx from $331.00 to $311.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Sanford C. Bernstein decreased their target price 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. Finally, Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.50.

Get Our Latest Research Report on FDX

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.87% of the company’s stock.

FedEx Profile

(Free Report)

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.

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Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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