First Trust Advisors LP Increases Holdings in FedEx Corporation $FDX

First Trust Advisors LP increased its position in shares of FedEx Corporation (NYSE:FDX) by 150.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,383 shares of the shipping service provider’s stock after purchasing an additional 221,136 shares during the quarter. First Trust Advisors LP’s holdings in FedEx were worth $131,210,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FDX. Hollencrest Capital Management acquired a new stake in FedEx during the 1st quarter valued at approximately $25,000. Bayban purchased a new stake in shares of FedEx in the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC increased its stake in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 41 shares during the period. EFG International AG purchased a new position in shares of FedEx during the fourth quarter worth $27,000. Finally, Tucker Asset Management LLC purchased a new position in shares of FedEx during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FDX shares. Jefferies Financial Group initiated coverage on shares of FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. BNP Paribas Exane lowered their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Argus boosted their price target on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Trading Down 1.6%

Shares of FedEx stock opened at $315.93 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a market capitalization of $74.74 billion, a PE ratio of 17.07, a P/E/G ratio of 1.65 and a beta of 1.29. The firm’s 50-day moving average price is $337.21 and its 200 day moving average price is $350.30.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $22.19 billion during the quarter. On average, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

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

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

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.