Equitable Trust Co. Has $2.19 Million Stock Position in FedEx Corporation (NYSE:FDX)

Equitable Trust Co. reduced its holdings in FedEx Corporation (NYSE:FDX) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,961 shares of the shipping service provider’s stock after selling 198 shares during the quarter. Equitable Trust Co.’s holdings in FedEx were worth $2,185,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Regal Investment Advisors LLC grew its holdings in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 38 shares during the period. Garner Asset Management Corp boosted its position in shares of FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. Curi RMB Capital LLC grew its stake in shares of FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock valued at $1,017,000 after buying an additional 47 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of FedEx by 2.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 48 shares during the period. Finally, Quadrant Capital Group LLC increased its position in FedEx by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider’s stock valued at $749,000 after buying an additional 50 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cowen reiterated a “buy” rating on shares of FedEx in a report on Wednesday, June 25th. Wells Fargo & Company upped their target price on FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 25th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of FedEx in a report on Tuesday, May 20th. Raymond James Financial reissued an “outperform” rating and issued a $260.00 price target (down previously from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Finally, Bank of America decreased their price target on shares of FedEx from $270.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $283.25.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 3,610 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares of the company’s stock, valued at $1,829,176.80. This 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 over the last three months. 8.87% of the stock is currently owned by insiders.

FedEx Trading Up 2.9%

Shares of FDX stock opened at $243.28 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm has a market cap of $57.39 billion, a P/E ratio of 14.41, a PEG ratio of 1.23 and a beta of 1.35. The company has a 50 day moving average of $227.02 and a 200-day moving average of $237.07. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the prior year, the company earned $5.41 earnings per share. Sell-side analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a $1.45 dividend. This is a boost from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Monday, June 23rd. FedEx’s payout ratio is currently 34.36%.

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.