FedEx Co. (NYSE:FDX) Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,124 shares of the shipping service provider’s stock after selling 2,441 shares during the quarter. Kestra Advisory Services LLC’s holdings in FedEx were worth $14,233,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Capital International Investors grew its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Sentry LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $1,811,748,000. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after purchasing an additional 798,084 shares during the last quarter. Finally, Norges Bank bought a new position in shares of FedEx during the fourth quarter valued at approximately $700,291,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.5 %

Shares of FDX traded up $1.55 during mid-day trading on Friday, reaching $300.14. The company’s stock had a trading volume of 1,200,882 shares, compared to its average volume of 1,737,460. The business has a fifty day moving average of $273.07 and a 200 day moving average of $262.44. The company has a market cap of $73.32 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.34 by $0.07. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.94 earnings per share. As a group, analysts forecast that FedEx Co. will post 20.94 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, June 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. TD Cowen increased their price objective on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Stephens reissued an “overweight” rating and issued a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.00.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last quarter. Corporate insiders own 8.73% of the company’s stock.

FedEx Company 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.