FedEx Corporation $FDX Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its position in FedEx Corporation (NYSE:FDX) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,865 shares of the shipping service provider’s stock after selling 1,603 shares during the period. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $4,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in shares of FedEx by 37,961.3% in the 2nd quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider’s stock valued at $30,821,946,000 after acquiring an additional 98,173,175 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of FedEx in the second quarter worth $6,508,103,000. State Street Corp raised its holdings in shares of FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after purchasing an additional 382,848 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of FedEx during the second quarter worth $2,554,138,000. Finally, Franklin Resources Inc. lifted its position in FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Seaport Research Partners initiated coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, TD Cowen decreased their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $355.17.

FedEx Stock Performance

NYSE FDX opened at $311.95 on Friday. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.66 and a beta of 1.32. FedEx Corporation has a twelve month low of $179.50 and a twelve month 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. The stock has a 50-day moving average of $319.16 and a 200 day moving average of $346.76.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. Sell-side analysts anticipate that FedEx Corporation will post 17.55 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s dividend payout ratio is presently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.