Sequoia Financial Advisors LLC Lowers Stock Holdings in FedEx Corporation $FDX

Sequoia Financial Advisors LLC reduced its position in FedEx Corporation (NYSE:FDX) by 10.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,865 shares of the shipping service provider’s stock after selling 1,603 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $4,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in FedEx during the 2nd quarter worth $586,000. Canada Post Corp Registered Pension Plan raised its position in FedEx by 85.9% in the 4th 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 in the last quarter. North Dakota State Investment Board acquired a new stake in FedEx in the 4th quarter valued at about $2,122,000. First Nebraska Trust Co purchased a new position in shares of FedEx in the 1st quarter valued at about $10,675,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after buying an additional 8,868 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $311.95 on Friday. The business has a 50 day moving average price of $319.16 and a 200 day moving average price of $346.76. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock has a market cap of $73.83 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.66 and a beta of 1.32. FedEx Corporation has a fifty-two week low of $179.50 and a fifty-two week high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly 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 company had revenue of $23.26 billion for the quarter. Equities research analysts anticipate that FedEx Corporation will post 17.55 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Buying and Selling

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America upped 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. Citizens Jmp assumed coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target for the company. Truist Financial lowered their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Wall Street Zen raised shares of FedEx to a “hold” rating in a research report on Saturday, August 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $355.17.

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.