Petros Family Wealth LLC Lowers Stock Position in FedEx Corporation (NYSE:FDX)

Petros Family Wealth LLC lowered its position in FedEx Corporation (NYSE:FDX) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,136 shares of the shipping service provider’s stock after selling 155 shares during the period. Petros Family Wealth LLC’s holdings in FedEx were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the last quarter. Dodge & Cox raised its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after purchasing an additional 109,006 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after buying an additional 127,044 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $229.22 on Tuesday. The firm has a 50 day moving average of $218.67 and a 200-day moving average of $243.96. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market capitalization of $54.92 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.35.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a $1.45 dividend. 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 dividend yield of 2.53%. The ex-dividend date is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is 36.39%.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on FDX shares. UBS Group decreased their price objective on shares of FedEx from $331.00 to $311.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Sanford C. Bernstein decreased their price objective on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a report on Friday, June 13th. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday, March 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.54.

FedEx Company 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.