FedEx Corporation (NYSE:FDX) Shares Sold by Beaton Management Co. Inc.

Beaton Management Co. Inc. lessened its position in shares of FedEx Corporation (NYSE:FDX) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,217 shares of the shipping service provider’s stock after selling 100 shares during the quarter. Beaton Management Co. Inc.’s holdings in FedEx were worth $784,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC purchased a new position in shares of FedEx during the fourth quarter worth $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx during the 4th quarter valued at about $28,000. Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx in the 4th quarter valued at about $32,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $35,000. Finally, Optiver Holding B.V. acquired a new stake in FedEx during the fourth quarter worth about $39,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 0.7%

Shares of FDX stock opened at $227.35 on Tuesday. FedEx Corporation has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a 50 day moving average price of $220.63 and a 200 day moving average price of $242.02. The stock has a market capitalization of $54.47 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

FedEx (NYSE:FDX) last posted its quarterly 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 net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the previous year, the firm posted $5.41 earnings per share. Equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business 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 dividend of $1.45 per share. This is an increase from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.55%. FedEx’s dividend payout ratio is 36.39%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FDX. Deutsche Bank Aktiengesellschaft started coverage on 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 shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research note on Friday, June 13th. Stifel Nicolaus set a $315.00 price target on shares of FedEx in a report on Wednesday, June 25th. Wells Fargo & Company lifted their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Wednesday, June 25th. Finally, Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $283.00.

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.