United Capital Financial Advisers LLC cut its stake in FedEx Co. (NYSE:FDX) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,055 shares of the shipping service provider’s stock after selling 1,398 shares during the period. United Capital Financial Advisers LLC’s holdings in FedEx were worth $1,815,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in FedEx by 22.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock valued at $17,637,000 after purchasing an additional 19,349 shares in the last quarter. Heritage Investors Management Corp increased its holdings in FedEx by 4.3% during the 2nd quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock valued at $12,610,000 after purchasing an additional 3,189 shares in the last quarter. First Dallas Securities Inc. increased its holdings in FedEx by 7.4% during the 1st quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after purchasing an additional 425 shares in the last quarter. Baker Ellis Asset Management LLC increased its holdings in FedEx by 4.2% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 4,950 shares of the shipping service provider’s stock valued at $813,000 after purchasing an additional 200 shares in the last quarter. Finally, Tredje AP fonden increased its holdings in FedEx by 23.7% during the 1st quarter. Tredje AP fonden now owns 19,898 shares of the shipping service provider’s stock valued at $3,623,000 after purchasing an additional 3,817 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now directly owns 68,446 shares in the company, valued at approximately $12,031,437.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now owns 16,440 shares in the company, valued at $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by company insiders.

FDX traded up $0.21 during mid-day trading on Thursday, reaching $151.12. The stock had a trading volume of 3,150,648 shares, compared to its average volume of 1,549,518. FedEx Co. has a 52 week low of $147.82 and a 52 week high of $250.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45. The stock has a market capitalization of $45.27 billion, a P/E ratio of 9.74, a P/E/G ratio of 0.93 and a beta of 1.69. The firm’s fifty day simple moving average is $161.08 and its two-hundred day simple moving average is $170.74.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.57% and a net margin of 0.77%. The company had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the business earned $3.46 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts expect that FedEx Co. will post 14.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a $0.65 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. FedEx’s dividend payout ratio is currently 16.75%.

FDX has been the subject of a number of recent analyst reports. Credit Suisse Group dropped their price target on FedEx from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on FedEx from $168.00 to $146.00 and set a “neutral” rating for the company in a report on Wednesday. Edward Jones cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital dropped their price target on FedEx from $262.00 to $220.00 in a report on Wednesday, June 26th. Finally, Citigroup dropped their price target on FedEx from $192.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $175.96.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

Further Reading: Overbought

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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