Parkside Investments LLC Decreases Stock Position in FedEx Co. (NYSE:FDX)

Parkside Investments LLC decreased its position in shares of FedEx Co. (NYSE:FDX) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,259 shares of the shipping service provider’s stock after selling 1,736 shares during the period. Parkside Investments LLC’s holdings in FedEx were worth $5,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in FedEx during the 4th quarter valued at approximately $26,000. Kentucky Trust Co bought a new position in shares of FedEx during the 4th quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx in the fourth quarter valued at $28,000. Runnymede Capital Advisors Inc. bought a new stake in FedEx in the fourth quarter worth $32,000. Finally, Accredited Wealth Management LLC purchased a new stake in FedEx during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

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

FedEx Trading Up 0.4%

FDX opened at $224.91 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. 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. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a fifty day moving average price of $216.29 and a 200-day moving average price of $247.91.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 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 firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the prior year, the firm posted $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on FDX shares. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 20th. Bank of America dropped their price target on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.33.

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.