WASHINGTON TRUST Co Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

WASHINGTON TRUST Co lessened its holdings in FedEx Co. (NYSE:FDX) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,678 shares of the shipping service provider’s stock after selling 542 shares during the quarter. WASHINGTON TRUST Co’s holdings in FedEx were worth $8,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE:FDX traded up $1.75 during mid-day trading on Wednesday, reaching $276.79. The stock had a trading volume of 309,258 shares, compared to its average volume of 1,821,013. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a 50 day moving average price of $278.30 and a two-hundred day moving average price of $274.91. The stock has a market capitalization of $67.63 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FDX shares. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Evercore ISI cut their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Citigroup started coverage on shares of FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Profile

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.