Mawer Investment Management Ltd. Cuts Position in FedEx Corporation (NYSE:FDX)

Mawer Investment Management Ltd. decreased its holdings in FedEx Corporation (NYSE:FDX) by 3.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,274,767 shares of the shipping service provider’s stock after selling 87,041 shares during the period. FedEx makes up about 2.7% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 12th largest position. Mawer Investment Management Ltd.’s holdings in FedEx were worth $554,543,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FDX. Transce3nd LLC purchased a new position in FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $28,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $35,000. Abound Financial LLC purchased a new stake in shares of FedEx during the first quarter valued at approximately $38,000. Finally, Optiver Holding B.V. purchased a new stake in shares of FedEx during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. BMO Capital Markets dropped their price objective on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a research note on Monday, May 19th. Sanford C. Bernstein dropped their price objective on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research note on Friday, June 13th. Citigroup lifted their price objective on shares of FedEx from $259.00 to $278.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Bank of America dropped their price objective on shares of FedEx from $270.00 to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, June 25th. Finally, UBS Group dropped their price objective on shares of FedEx from $311.00 to $297.00 and set a “buy” rating on the stock in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.25.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $242.48 on Tuesday. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The company has a market cap of $57.20 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The firm has a fifty day moving average of $227.34 and a 200-day moving average of $236.34.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.09. The business 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 in the prior year, the company posted $5.41 earnings per share. As a group, equities analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were given a $1.45 dividend. The ex-dividend date was Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.39%. FedEx’s payout ratio is 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.