FedEx Corporation (NYSE:FDX) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in FedEx Corporation (NYSE:FDX) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 117,500 shares of the shipping service provider’s stock after selling 2,077 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in FedEx were worth $28,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in FedEx during the fourth quarter valued at approximately $28,000. Runnymede Capital Advisors Inc. acquired a new position in FedEx during the fourth quarter valued at approximately $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx during the fourth quarter worth approximately $35,000. Finally, Optiver Holding B.V. acquired a new stake in shares of FedEx in the fourth quarter worth $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target for the company. Sanford C. Bernstein decreased their target price on FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research report on Friday, June 13th. Citigroup lowered their target price on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and reduced their price target for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.50.

FedEx Stock Down 0.1%

NYSE:FDX opened at $229.06 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. The company has a market capitalization of $54.88 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. FedEx Corporation has a one year low of $194.30 and a one year high of $313.84. The stock has a 50-day simple moving average of $219.11 and a 200 day simple moving average of $243.86.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the firm earned $5.41 EPS. Sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

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

Insider Transactions at FedEx

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

About FedEx

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.