Archer Investment Corp Lowers Stake in FedEx Corporation (NYSE:FDX)

Archer Investment Corp reduced its holdings in shares of FedEx Corporation (NYSE:FDX) by 5.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,665 shares of the shipping service provider’s stock after selling 199 shares during the period. Archer Investment Corp’s holdings in FedEx were worth $893,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Vanguard Group Inc. boosted its holdings in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after acquiring an additional 56,236 shares in the last quarter. Dodge & Cox boosted its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after acquiring an additional 109,006 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after acquiring an additional 127,044 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. Citigroup lifted their target price on shares of FedEx from $259.00 to $278.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of FedEx in a report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Finally, Wall Street Zen downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.25.

FedEx Trading Down 1.4%

FedEx stock traded down $3.19 during trading on Friday, reaching $225.18. The company had a trading volume of 134,868 shares, compared to its average volume of 1,847,392. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.16. The stock’s 50 day moving average price is $226.46 and its two-hundred day moving average price is $238.85. The firm has a market capitalization of $53.95 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.20 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.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) 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 firm 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 firm earned $5.41 earnings per share. As a group, equities analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx’s dividend payout ratio is 34.36%.

Insiders Place Their Bets

In related news, Director R Brad Martin sold 2,123 shares of the stock in a transaction dated Monday, July 7th. The shares were 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 of the company’s stock, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares in the company, valued at approximately $1,829,176.80. This trade represents a 31.86% 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 valued at $2,228,816. Company insiders own 8.87% of the company’s stock.

FedEx Company 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.