Fort Washington Investment Advisors Inc. OH Trims Stake in FedEx Co. (NYSE:FDX)

Fort Washington Investment Advisors Inc. OH lowered its position in FedEx Co. (NYSE:FDX) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,255 shares of the shipping service provider’s stock after selling 30,346 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in FedEx were worth $27,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of FDX. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of FedEx by 7.9% during the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 926 shares of the shipping service provider’s stock worth $226,000 after acquiring an additional 68 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in FedEx by 17.0% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 1,096 shares of the shipping service provider’s stock worth $267,000 after purchasing an additional 159 shares during the period. Simon Quick Advisors LLC lifted its position in shares of FedEx by 6.1% during the first quarter. Simon Quick Advisors LLC now owns 1,100 shares of the shipping service provider’s stock worth $268,000 after purchasing an additional 63 shares during the last quarter. CX Institutional boosted its stake in shares of FedEx by 29.4% during the first quarter. CX Institutional now owns 3,522 shares of the shipping service provider’s stock valued at $859,000 after purchasing an additional 800 shares during the period. Finally, Accurate Wealth Management LLC grew its holdings in shares of FedEx by 61.3% in the first quarter. Accurate Wealth Management LLC now owns 3,880 shares of the shipping service provider’s stock worth $946,000 after purchasing an additional 1,475 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and reduced their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Citigroup lowered their price target on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Bank of America dropped their price objective on FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays decreased their target price on FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.33.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

NYSE FDX opened at $224.91 on Friday. The firm’s fifty day simple moving average is $216.29 and its two-hundred day simple moving average is $247.91. The firm has a market capitalization of $53.89 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the firm earned $3.86 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.58%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio is 34.63%.

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.