FedEx Co. (NYSE:FDX) Shares Sold by Allstate Corp

Allstate Corp lowered its stake in FedEx Co. (NYSE:FDX) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 786 shares of the shipping service provider’s stock after selling 38 shares during the quarter. Allstate Corp’s holdings in FedEx were worth $228,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Fidelis Capital Partners LLC raised its position in FedEx by 4.1% in the first quarter. Fidelis Capital Partners LLC now owns 982 shares of the shipping service provider’s stock worth $285,000 after acquiring an additional 39 shares in the last quarter. KRS Capital Management LLC raised its position in FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock worth $263,000 after acquiring an additional 41 shares in the last quarter. Zullo Investment Group Inc. raised its position in FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock worth $1,447,000 after acquiring an additional 42 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its position in FedEx by 3.5% in the first quarter. Regent Peak Wealth Advisors LLC now owns 1,274 shares of the shipping service provider’s stock worth $369,000 after acquiring an additional 43 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock traded up $1.12 during trading hours on Monday, reaching $307.43. 1,414,147 shares of the company’s stock were exchanged, compared to its average volume of 1,924,938. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market capitalization of $75.11 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.11 and a beta of 1.18. The business has a fifty day moving average price of $268.99 and a 200-day moving average price of $260.65. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the company earned $4.94 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Monday, June 24th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.80%. FedEx’s payout ratio is 32.04%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FDX. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a report on Wednesday, June 26th. BNP Paribas reiterated an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. Argus upped their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, The Goldman Sachs Group upped their target price on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.00.

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by insiders.

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.