Independent Solutions Wealth Management LLC Sells 75 Shares of FedEx Corporation (NYSE:FDX)

Independent Solutions Wealth Management LLC decreased its holdings in shares of FedEx Corporation (NYSE:FDX) by 7.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 944 shares of the shipping service provider’s stock after selling 75 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in FedEx were worth $230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of FedEx in the 1st quarter valued at $147,000. Farther Finance Advisors LLC increased its position in shares of FedEx by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock valued at $538,000 after buying an additional 481 shares in the last quarter. Allianz SE bought a new stake in shares of FedEx in the 4th quarter valued at $18,342,000. Parvin Asset Management LLC bought a new stake in shares of FedEx in the 4th quarter valued at $281,000. Finally, Landscape Capital Management L.L.C. increased its position in shares of FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider’s stock valued at $3,734,000 after buying an additional 6,180 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Sanford C. Bernstein reduced their target price on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research note on Friday, June 13th. BMO Capital Markets reduced their target price on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research note on Monday, May 19th. Susquehanna upped their target price on shares of FedEx from $290.00 to $295.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, UBS Group reduced their target price on shares of FedEx from $311.00 to $297.00 and set a “buy” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.75.

FedEx Trading Down 3.2%

Shares of NYSE:FDX opened at $222.07 on Thursday. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a market capitalization of $53.21 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company has a 50-day simple moving average of $219.48 and a 200 day simple moving average of $243.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24.

FedEx (NYSE:FDX) last issued its 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 net margin of 4.65% and a return on equity of 16.54%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the business posted $5.41 EPS. Sell-side analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is 36.39%.

About FedEx

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.