Motco Boosts Stock Holdings in FedEx Corporation (NYSE:FDX)

Motco raised its holdings in shares of FedEx Corporation (NYSE:FDX) by 61.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267 shares of the shipping service provider’s stock after buying an additional 102 shares during the period. Motco’s holdings in FedEx were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FDX. Regal Investment Advisors LLC boosted its holdings in shares of FedEx by 2.4% during 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 holdings in shares of FedEx by 0.7% during the fourth 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 during the period. Curi RMB Capital LLC boosted its holdings in shares of FedEx by 1.3% during the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after purchasing an additional 47 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of FedEx by 2.6% during the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider’s stock worth $457,000 after purchasing an additional 48 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of FedEx by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider’s stock worth $749,000 after purchasing an additional 50 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FDX shares. JPMorgan Chase & Co. increased their target price on shares of FedEx from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Bank of America dropped their target price on shares of FedEx from $270.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. BMO Capital Markets dropped their target price on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a report on Monday, May 19th. TD Cowen lowered their price objective on shares of FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Finally, BNP Paribas Exane upgraded shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price objective for the company in a report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $283.25.

FedEx Price Performance

Shares of FDX opened at $243.28 on Friday. The company has a market capitalization of $57.39 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. 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 50 day moving average of $227.02 and a 200 day moving average of $236.81. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 company had revenue of $22.20 billion during the quarter, compared to the consensus estimate 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 firm earned $5.41 earnings per share. As a group, equities research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were given a dividend of $1.45 per share. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.38%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is 34.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 3,610 shares of the firm’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 completion of the sale, the director owned 15,513 shares of the company’s stock, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin sold 2,123 shares of FedEx 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 completion of the sale, the director directly owned 8,935 shares of the company’s stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock valued at $2,228,816 over the last 90 days. Corporate 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.