FedEx Corporation $FDX Shares Sold by Assetmark Inc.

Assetmark Inc. cut its position in shares of FedEx Corporation (NYSE:FDX) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,842 shares of the shipping service provider’s stock after selling 2,696 shares during the period. Assetmark Inc.’s holdings in FedEx were worth $7,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Bayban acquired a new position in shares of FedEx in the 1st quarter worth approximately $26,000. Cedar Mountain Advisors LLC boosted its holdings in FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the period. EFG International AG acquired a new position in shares of FedEx during the fourth quarter worth about $27,000. Tucker Asset Management LLC acquired a new position in FedEx during the 4th quarter worth approximately $29,000. Finally, Wilkerson Advisory Group LLC purchased a new position in FedEx in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Stifel Nicolaus decreased their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Raymond James Financial reduced their price objective on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, June 24th. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Trading Up 3.0%

NYSE FDX opened at $315.27 on Wednesday. The company’s 50 day moving average price is $339.44 and its 200 day moving average price is $349.91. The firm has a market capitalization of $75.23 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.58 and a beta of 1.29. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $22.19 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 26.36%.

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.