FedEx Co. (NYSE:FDX) Stock Position Decreased by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 475 shares of the shipping service provider’s stock after selling 118 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in FedEx were worth $130,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Highline Wealth Partners LLC bought a new stake in shares of FedEx during the 3rd quarter valued at about $31,000. Highview Capital Management LLC DE grew its position in FedEx by 10.0% in the 3rd quarter. Highview Capital Management LLC DE now owns 4,372 shares of the shipping service provider’s stock worth $1,197,000 after purchasing an additional 396 shares during the last quarter. Tyche Wealth Partners LLC grew its position in FedEx by 2.5% in the 3rd quarter. Tyche Wealth Partners LLC now owns 2,039 shares of the shipping service provider’s stock worth $558,000 after purchasing an additional 50 shares during the last quarter. Wells Trecaso Financial Group LLC grew its position in FedEx by 0.3% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 22,508 shares of the shipping service provider’s stock worth $6,160,000 after purchasing an additional 58 shares during the last quarter. Finally, SFE Investment Counsel grew its position in FedEx by 4.6% in the 3rd quarter. SFE Investment Counsel now owns 12,387 shares of the shipping service provider’s stock worth $3,390,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.3 %

FDX stock opened at $274.30 on Thursday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The firm has a market cap of $67.02 billion, a PE ratio of 16.92, a P/E/G ratio of 1.08 and a beta of 1.17. The firm has a 50 day simple moving average of $277.96 and a 200 day simple moving average of $274.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

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

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

Several research firms have commented on FDX. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Evercore ISI decreased their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

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.