Phoenix Financial Ltd. Has $572,000 Stake in FedEx Corporation (NYSE:FDX)

Phoenix Financial Ltd. lowered its stake in FedEx Corporation (NYSE:FDX) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,348 shares of the shipping service provider’s stock after selling 103 shares during the quarter. Phoenix Financial Ltd.’s holdings in FedEx were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in FedEx during the fourth quarter worth about $28,000. Accredited Wealth Management LLC bought a new position in FedEx during the fourth quarter worth about $35,000. Optiver Holding B.V. bought a new position in FedEx during the fourth quarter worth about $39,000. Finally, Abound Financial LLC bought a new position in FedEx during the first quarter worth about $38,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the business’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 transaction of $855,353.40. Following the completion of the transaction, the director directly owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of the business’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 transaction, the director owned 15,513 shares of the company’s stock, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock worth $2,228,816 over the last three months. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $315.00 price target on FedEx in a report on Wednesday, June 25th. Barclays reiterated an “overweight” rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. BMO Capital Markets reduced their price target on 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 reduced their price target on FedEx from $310.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded FedEx from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $283.25.

FedEx Stock Up 2.9%

NYSE FDX opened at $243.28 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a 50 day moving average of $227.02 and a 200-day moving average of $236.81. The company has a market cap of $57.39 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.27 and a beta of 1.35.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating 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 period in the previous year, the business earned $5.41 earnings per share. On average, equities research analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

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