Northwestern Mutual Wealth Management Co. Has $8.02 Million Holdings in FedEx Corporation $FDX

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 38.9% during the second quarter, Holdings Channel.com reports. The fund 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 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FDX. Ferguson Wellman Capital Management Inc. increased its holdings in shares of FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 26 shares during the period. OneAscent Financial Services LLC grew its position in FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after buying an additional 29 shares in the last quarter. Whipplewood Advisors LLC grew its position in FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in shares of FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 30 shares during the period. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on 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 sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Rothschild & Co Redburn dropped their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Barclays dropped their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group initiated coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 2.7%

Shares of FedEx stock opened at $316.15 on Thursday. The firm’s 50 day moving average is $319.39 and its 200 day moving average is $349.65. The firm has a market capitalization of $74.82 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its earnings results 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%. Equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio is presently 26.36%.

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.