State Street Corp Cuts Stake in FedEx Co. (NYSE:FDX)

State Street Corp reduced its stake in FedEx Co. (NYSE:FDXGet Rating) by 1.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 9,975,457 shares of the shipping service provider’s stock after selling 138,497 shares during the period. State Street Corp’s holdings in FedEx were worth $2,315,560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Meridian Management Co. boosted its holdings in shares of FedEx by 3.8% in the 4th quarter. Meridian Management Co. now owns 1,382 shares of the shipping service provider’s stock worth $357,000 after buying an additional 50 shares during the last quarter. HM Payson & Co. boosted its holdings in shares of FedEx by 0.8% in the 4th quarter. HM Payson & Co. now owns 6,635 shares of the shipping service provider’s stock worth $1,716,000 after buying an additional 50 shares during the last quarter. Benson Investment Management Company Inc. boosted its holdings in shares of FedEx by 0.3% in the 1st quarter. Benson Investment Management Company Inc. now owns 15,525 shares of the shipping service provider’s stock worth $3,592,000 after buying an additional 50 shares during the last quarter. Northstar Asset Management LLC raised its stake in FedEx by 1.6% in the 1st quarter. Northstar Asset Management LLC now owns 3,125 shares of the shipping service provider’s stock valued at $723,000 after acquiring an additional 50 shares during the period. Finally, 1ST Source Bank raised its stake in FedEx by 1.9% in the 1st quarter. 1ST Source Bank now owns 2,722 shares of the shipping service provider’s stock valued at $630,000 after acquiring an additional 50 shares during the period. 71.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on FedEx from $282.00 to $269.00 and set an “overweight” rating on the stock in a research note on Thursday. Loop Capital boosted their price objective on FedEx from $328.00 to $339.00 and gave the company a “buy” rating in a research note on Monday, June 27th. BMO Capital Markets lowered their price objective on FedEx from $280.00 to $270.00 and set a “market perform” rating on the stock in a research note on Thursday, August 25th. UBS Group lowered their price objective on FedEx from $312.00 to $308.00 and set a “buy” rating on the stock in a research note on Wednesday, September 7th. Finally, Morgan Stanley lowered their price objective on FedEx from $255.00 to $250.00 in a research note on Wednesday, September 7th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.35.

Insiders Place Their Bets

In other news, Director Amy B. Lane bought 607 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was acquired at an average price of $228.12 per share, with a total value of $138,468.84. Following the completion of the purchase, the director now directly owns 686 shares in the company, valued at $156,490.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Vincenzo J. Vena acquired 900 shares of the company’s stock in a transaction dated Wednesday, July 6th. The stock was purchased at an average price of $230.04 per share, with a total value of $207,036.00. Following the completion of the purchase, the director now owns 1,325 shares in the company, valued at approximately $304,803. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane acquired 607 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $228.12 per share, with a total value of $138,468.84. Following the purchase, the director now owns 686 shares of the company’s stock, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Insiders sold a total of 48,810 shares of company stock valued at $11,199,898 over the last quarter. 8.62% of the stock is owned by corporate insiders.

FedEx Stock Up 3.1 %

Shares of NYSE FDX opened at $209.07 on Monday. FedEx Co. has a 12 month low of $192.82 and a 12 month high of $266.79. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $54.34 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.75 and a beta of 1.21. The business has a 50-day moving average of $224.20 and a 200-day moving average of $218.75.

FedEx (NYSE:FDXGet Rating) last issued its quarterly earnings data on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The business had revenue of $24.39 billion for the quarter, compared to analysts’ expectations of $24.28 billion. During the same period in the previous year, the firm posted $5.01 EPS. Sell-side analysts expect that FedEx Co. will post 23.16 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s dividend payout ratio is currently 32.17%.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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