Stratos Wealth Advisors LLC Sells 2,831 Shares of FedEx Corporation (NYSE:FDX)

Stratos Wealth Advisors LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 29.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,900 shares of the shipping service provider’s stock after selling 2,831 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in FedEx were worth $1,682,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FDX. Norges Bank bought a new stake in shares of FedEx in the fourth quarter valued at approximately $807,352,000. Dodge & Cox boosted its position 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 acquiring an additional 734,268 shares during the period. GAMMA Investing LLC boosted its position in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock valued at $133,003,000 after acquiring an additional 542,605 shares during the period. Capital Research Global Investors bought a new stake in shares of FedEx in the fourth quarter valued at approximately $145,733,000. Finally, Franklin Resources Inc. raised its stake 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 in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.6%

FDX opened at $238.89 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The firm has a market cap of $57.24 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.23 and a beta of 1.35. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The stock has a 50-day moving average of $223.89 and a 200 day moving average of $240.64.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company 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. As a group, research analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio is currently 34.36%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BNP Paribas Exane upgraded FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 target price for the company in a research note on Thursday, July 3rd. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Stifel Nicolaus set a $315.00 price objective on FedEx in a report on Wednesday, June 25th. Wells Fargo & Company boosted their target price on FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 25th. Finally, Stephens restated an “overweight” rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $282.46.

Insider Activity

In other news, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company’s stock, valued at $3,696,592.77. This represents a 18.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.