FedEx Corporation $FDX Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its stake in shares of FedEx Corporation (NYSE:FDX) by 38.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,621 shares of the shipping service provider’s stock after selling 16,284 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in FedEx were worth $8,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of FedEx during the first quarter worth about $25,000. Bayban acquired a new stake in shares of FedEx in the first quarter valued at approximately $26,000. Solstein Capital LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $27,000. Cedar Mountain Advisors LLC boosted its holdings in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the period. Finally, EFG International AG acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $27,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FDX shares. Citizens Jmp started coverage on FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective for the company. UBS Group cut their price target on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. BNP Paribas Exane cut their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Citigroup assumed coverage on FedEx in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. Finally, HSBC cut their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $348.32.

FedEx Trading Down 1.9%

Shares of NYSE FDX traded down $6.03 during midday trading on Tuesday, hitting $316.49. The stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. The company has a market capitalization of $74.90 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.71 and a beta of 1.32. FedEx Corporation has a 1-year low of $177.86 and a 1-year high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $319.29 and a 200 day moving average price of $348.55.

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 business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s payout ratio is currently 26.36%.

Insider Buying and Selling at FedEx

In other news, Director Paul 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 value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

FedEx 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.