Flagship Harbor Advisors LLC Trims Holdings in FedEx Corporation (NYSE:FDX)

Flagship Harbor Advisors LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,348 shares of the shipping service provider’s stock after selling 56 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in FedEx were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. IFP Advisors Inc lifted its holdings in FedEx by 10.7% during the 4th quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider’s stock worth $1,906,000 after buying an additional 652 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $227,000. Delta Financial Advisors LLC increased its holdings in shares of FedEx by 0.9% in the 4th quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider’s stock valued at $2,035,000 after acquiring an additional 65 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of FedEx during the 4th quarter valued at approximately $672,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Sanford C. Bernstein decreased their target price on FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research note on Friday, June 13th. Finally, Citigroup lowered their target price on FedEx from $267.00 to $259.00 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.75.

FedEx Price Performance

NYSE FDX opened at $222.07 on Thursday. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market capitalization of $53.21 billion, a PE ratio of 13.16, a P/E/G ratio of 1.15 and a beta of 1.35. The company’s 50 day simple moving average is $219.48 and its 200 day simple moving average is $243.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.54% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm earned $5.41 EPS. As a group, equities research analysts forecast that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.61%. FedEx’s payout ratio is 36.39%.

FedEx 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.