Processus Wealth & Capital Management LLC Has $4.13 Million Stock Position in FedEx Corporation $FDX

Processus Wealth & Capital Management LLC lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,181 shares of the shipping service provider’s stock after selling 1,810 shares during the quarter. FedEx makes up 1.4% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 24th biggest holding. Processus Wealth & Capital Management LLC’s holdings in FedEx were worth $4,127,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares during the last quarter. Franklin Resources Inc. increased its holdings in FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Geode Capital Management LLC raised its position in FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Invesco Ltd. boosted its stake in shares of FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after purchasing an additional 108,426 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of FedEx during the fourth quarter valued at about $859,085,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on FDX. The Goldman Sachs Group lowered their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of FedEx to a “hold” rating in a report on Saturday, August 8th. Citigroup initiated coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Finally, Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Price Performance

Shares of FDX opened at $326.14 on Thursday. The business has a 50-day moving average of $319.09 and a 200-day moving average of $350.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The company has a market capitalization of $77.16 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.66 and a beta of 1.30. FedEx Corporation has a 1 year low of $176.00 and a 1 year high of $345.36.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.