WP Advisors LLC Trims Stock Holdings in FedEx Corporation (NYSE:FDX)

WP Advisors LLC decreased its stake in FedEx Corporation (NYSE:FDX) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,071 shares of the shipping service provider’s stock after selling 119 shares during the quarter. WP Advisors LLC’s holdings in FedEx were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Nuveen LLC purchased a new stake in FedEx during the 1st quarter valued at approximately $314,650,000. Dodge & Cox grew its holdings in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after buying an additional 734,268 shares in the last quarter. ACR Alpine Capital Research LLC grew its holdings in FedEx by 85.9% during the 1st quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider’s stock valued at $386,399,000 after buying an additional 732,266 shares in the last quarter. GAMMA Investing LLC grew its holdings in FedEx by 18,202.1% during the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock valued at $133,003,000 after buying an additional 542,605 shares in the last quarter. Finally, Capital Research Global Investors purchased a new position in FedEx during the 4th quarter valued at approximately $145,733,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the 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 completion of the transaction, the director owned 15,513 shares of the company’s stock, valued at $3,696,592.77. This 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 through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director directly owned 8,935 shares of the company’s stock, valued at $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 90 days, insiders have sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on FDX. BNP Paribas Exane upgraded FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price target for the company in a report on Thursday, July 3rd. Wall Street Zen upgraded FedEx from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Sanford C. Bernstein dropped their target price on FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a report on Friday, June 13th. Susquehanna lifted their target price on FedEx from $290.00 to $295.00 and gave the stock a “positive” rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company lifted their target price on FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $283.25.

FedEx Stock Up 1.4%

FedEx stock opened at $227.87 on Monday. 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 business’s 50-day simple moving average is $228.40 and its two-hundred day simple moving average is $233.17. The company has a market cap of $53.75 billion, a PE ratio of 13.50, a PEG ratio of 1.19 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the business earned $5.41 earnings per share. Equities analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. FedEx’s dividend payout ratio is currently 34.36%.

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.