Axxcess Wealth Management LLC Sells 18,460 Shares of FedEx Corporation (NYSE:FDX)

Axxcess Wealth Management LLC trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 79.4% during the 1st quarter, Holdings Channel reports. The fund owned 4,782 shares of the shipping service provider’s stock after selling 18,460 shares during the period. Axxcess Wealth Management LLC’s holdings in FedEx were worth $1,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Runnymede Capital Advisors Inc. bought a new stake in shares of FedEx in the 4th quarter valued at about $32,000. Accredited Wealth Management LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $35,000. Finally, Abound Financial LLC bought a new stake in shares of FedEx in the 1st quarter valued at about $38,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Down 1.1%

Shares of FDX stock opened at $236.05 on Friday. The company has a market cap of $56.56 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.25 and a beta of 1.35. The stock has a 50 day simple moving average of $225.31 and a 200-day simple moving average of $240.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the business earned $5.41 earnings per share. On average, equities research analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a $1.45 dividend. The ex-dividend date of this dividend was Monday, June 23rd. 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 2.46%. FedEx’s payout ratio is currently 34.36%.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company’s stock, valued at $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock valued at $2,228,816 in the last 90 days. 8.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. BNP Paribas Exane raised shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price objective for the company in a research report on Thursday, July 3rd. TD Cowen decreased their price objective on shares of FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, June 25th. Cfra Research raised shares of FedEx to a “hold” rating in a research report on Thursday, March 20th. Loop Capital lowered shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Finally, Susquehanna increased their price objective on shares of FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.25.

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.