FedEx Co. (NYSE:FDX) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 2.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 18,741 shares of the shipping service provider’s stock after selling 539 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in FedEx were worth $4,569,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of FedEx during the fourth quarter worth $76,000. Kentucky Trust Co acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Naples Global Advisors LLC boosted its holdings in shares of FedEx by 2.2% during the fourth quarter. Naples Global Advisors LLC now owns 3,869 shares of the shipping service provider’s stock worth $1,093,000 after purchasing an additional 85 shares during the last quarter. Finally, Consolidated Planning Corp boosted its holdings in shares of FedEx by 3.1% during the fourth quarter. Consolidated Planning Corp now owns 21,561 shares of the shipping service provider’s stock worth $6,066,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FDX. Bank of America decreased their price objective on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Raymond James decreased their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company reduced their target price on FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Citigroup reduced their target price on FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Wall Street Zen cut FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $295.33.

Insider Buying and Selling

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

FedEx Stock Up 0.4%

Shares of NYSE FDX opened at $224.91 on Friday. FedEx Co. has a 1 year low of $194.30 and a 1 year high of $313.84. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.11 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 1.23. The stock’s 50-day simple moving average is $216.29 and its 200-day simple moving average is $247.91.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the previous year, the firm posted $3.86 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.58%. This is an increase from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is 34.63%.

FedEx Profile

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.