Processus Wealth & Capital Management LLC Sells 1,810 Shares of FedEx Corporation $FDX

Processus Wealth & Capital Management LLC trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,181 shares of the shipping service provider’s stock after selling 1,810 shares during the period. FedEx makes up about 2.4% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Processus Wealth & Capital Management LLC’s holdings in FedEx were worth $4,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sivia Capital Partners LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at about $586,000. CWM LLC raised its holdings in shares of FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after purchasing an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in shares of FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after purchasing an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after purchasing an additional 6,864 shares during the period. Finally, North Dakota State Investment Board bought a new position in FedEx during the fourth quarter valued at approximately $2,122,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of research analyst reports. Barclays cut their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Stifel Nicolaus lowered their price target on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Citizens Jmp initiated coverage on FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target on the stock. Rothschild & Co Redburn cut their price objective on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated 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 directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

FedEx Trading Down 1.0%

Shares of FedEx stock opened at $321.93 on Wednesday. FedEx Corporation has a 1-year low of $176.00 and a 1-year high of $345.36. The company’s fifty day simple moving average is $319.07 and its 200-day simple moving average is $350.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market capitalization of $76.17 billion, a PE ratio of 17.39, a P/E/G ratio of 1.67 and a beta of 1.30.

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

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

About FedEx

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.