FedEx Co. (NYSE:FDX) Shares Sold by Delta Capital Management LLC

Delta Capital Management LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,965 shares of the shipping service provider’s stock after selling 285 shares during the quarter. Delta Capital Management LLC’s holdings in FedEx were worth $2,185,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC increased its holdings in FedEx by 2.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 20,006 shares of the shipping service provider’s stock worth $4,877,000 after acquiring an additional 482 shares in the last quarter. Tobam increased its holdings in FedEx by 522.2% in the 1st quarter. Tobam now owns 1,966 shares of the shipping service provider’s stock worth $479,000 after acquiring an additional 1,650 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its position in shares of FedEx by 7.9% in the first quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 926 shares of the shipping service provider’s stock valued at $226,000 after buying an additional 68 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in FedEx by 17.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,096 shares of the shipping service provider’s stock valued at $267,000 after buying an additional 159 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its position in FedEx by 6.1% in the first quarter. Simon Quick Advisors LLC now owns 1,100 shares of the shipping service provider’s stock valued at $268,000 after buying an additional 63 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FDX shares. TD Cowen decreased their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Stifel Nicolaus reduced their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Barclays reduced their price target on shares of FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $295.33.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

Shares of NYSE FDX opened at $224.91 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a fifty day moving average price of $216.29 and a 200 day moving average price of $247.91. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a market cap of $53.89 billion, a PE ratio of 14.33, a P/E/G ratio of 1.11 and a beta of 1.35.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the business earned $3.86 earnings per share. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.58%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is 34.63%.

FedEx 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.