29,970 Shares in FedEx Corporation $FDX Purchased by First Nebraska Trust Co

First Nebraska Trust Co bought a new stake in FedEx Corporation (NYSE:FDX) in the 1st quarter, Holdings Channel reports. The firm bought 29,970 shares of the shipping service provider’s stock, valued at approximately $10,675,000. FedEx makes up approximately 1.0% of First Nebraska Trust Co’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC raised its position in FedEx by 60.7% during the first quarter. Asset Dedication LLC now owns 450 shares of the shipping service provider’s stock worth $160,000 after acquiring an additional 170 shares in the last quarter. Groupama Asset Managment grew its position in shares of FedEx by 9.2% in the 1st quarter. Groupama Asset Managment now owns 3,554 shares of the shipping service provider’s stock valued at $1,266,000 after acquiring an additional 299 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of FedEx during the 1st quarter worth about $455,000. CTC Alternative Strategies Ltd. acquired a new position in shares of FedEx during the 1st quarter worth about $285,000. Finally, Western Wealth Management LLC raised its holdings in shares of FedEx by 186.1% in the 1st quarter. Western Wealth Management LLC now owns 4,840 shares of the shipping service provider’s stock valued at $1,724,000 after purchasing an additional 3,148 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FDX shares. Rothschild & Co Redburn lowered their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Stifel Nicolaus cut their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Barclays reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Raymond James Financial cut their target price on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 24th. Finally, Argus upped their target price on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Performance

Shares of FDX opened at $307.41 on Friday. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The company has a market cap of $72.73 billion, a PE ratio of 16.61, a P/E/G ratio of 1.58 and a beta of 1.29. The stock has a 50-day moving average of $328.67 and a 200-day moving average of $350.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities research analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

FedEx Company 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.