FDx Advisors Inc. cut its stake in FedEx Co. (NYSE:FDX) by 63.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,645 shares of the shipping service provider’s stock after selling 4,687 shares during the quarter. FDx Advisors Inc.’s holdings in FedEx were worth $637,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Gideon Capital Advisors Inc. boosted its position in shares of FedEx by 263.8% in the 3rd quarter. Gideon Capital Advisors Inc. now owns 4,799 shares of the shipping service provider’s stock worth $1,156,000 after purchasing an additional 3,480 shares in the last quarter. Estabrook Capital Management boosted its position in shares of FedEx by 11.4% in the 3rd quarter. Estabrook Capital Management now owns 3,721 shares of the shipping service provider’s stock worth $896,000 after purchasing an additional 380 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of FedEx by 7.5% in the 3rd quarter. Independent Advisor Alliance now owns 15,541 shares of the shipping service provider’s stock worth $2,723,000 after purchasing an additional 1,086 shares in the last quarter. Boston Private Wealth LLC boosted its position in shares of FedEx by 0.4% in the 3rd quarter. Boston Private Wealth LLC now owns 90,349 shares of the shipping service provider’s stock worth $21,755,000 after purchasing an additional 368 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of FedEx by 21.4% in the 3rd quarter. D.A. Davidson & CO. now owns 42,061 shares of the shipping service provider’s stock worth $10,128,000 after purchasing an additional 7,426 shares in the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.
A number of analysts have recently weighed in on FDX shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $286.00 price objective on shares of FedEx in a research report on Friday, October 12th. Berenberg Bank started coverage on FedEx in a research report on Friday, September 21st. They issued a “buy” rating and a $300.00 price objective for the company. Citigroup lowered their price objective on FedEx from $304.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Bank of America lowered their price objective on FedEx from $310.00 to $304.00 and set a “buy” rating for the company in a research report on Tuesday, September 18th. Finally, Wolfe Research set a $275.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $286.35.
Shares of FDX opened at $230.04 on Tuesday. FedEx Co. has a one year low of $207.90 and a one year high of $274.66. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market cap of $60.35 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.03 and a beta of 1.35.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same period in the prior year, the firm posted $2.65 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 17.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.13%. FedEx’s dividend payout ratio is currently 16.98%.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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