FedEx Corporation $FDX Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in FedEx Corporation (NYSE:FDX) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,435 shares of the shipping service provider’s stock after selling 9,039 shares during the period. Cannell & Spears LLC’s holdings in FedEx were worth $37,185,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FDX. Hollencrest Capital Management acquired a new stake in FedEx in the 1st quarter valued at about $25,000. Bayban acquired a new position in shares of FedEx during the first quarter worth about $26,000. EFG International AG purchased a new stake in shares of FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx during the third quarter worth approximately $28,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.3%

Shares of NYSE:FDX opened at $314.77 on Friday. The company has a market capitalization of $74.47 billion, a PE ratio of 17.01, a P/E/G ratio of 1.62 and a beta of 1.29. 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 Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The firm has a 50 day simple moving average of $335.98 and a 200-day simple moving average of $350.05.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion for the quarter. On average, equities analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup started coverage on shares of FedEx in a report on Wednesday, July 15th. They set an “outperform” rating for the company. BNP Paribas Exane reduced their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Bank of America boosted their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Argus increased their target price on FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. Finally, Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

FedEx Company 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.