FedEx Co. (NYSE:FDX) Position Decreased by Focused Investors LLC

Focused Investors LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 498,800 shares of the shipping service provider’s stock after selling 9,300 shares during the quarter. FedEx accounts for about 4.1% of Focused Investors LLC’s holdings, making the stock its 10th largest position. Focused Investors LLC owned about 0.20% of FedEx worth $136,512,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Accent Capital Management LLC increased its position in shares of FedEx by 608.9% during the 3rd quarter. Accent Capital Management LLC now owns 8,152 shares of the shipping service provider’s stock valued at $2,242,000 after purchasing an additional 7,002 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its position in FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares during the period. Natixis Advisors LLC grew its position in FedEx by 4.8% during the third quarter. Natixis Advisors LLC now owns 157,002 shares of the shipping service provider’s stock valued at $42,968,000 after buying an additional 7,238 shares during the period. Mizuho Securities USA LLC increased its holdings in FedEx by 102.7% during the third quarter. Mizuho Securities USA LLC now owns 35,377 shares of the shipping service provider’s stock worth $9,682,000 after buying an additional 17,924 shares during the last quarter. Finally, Vishria Bird Financial Group LLC boosted its stake in FedEx by 18.5% in the third quarter. Vishria Bird Financial Group LLC now owns 95,139 shares of the shipping service provider’s stock valued at $26,038,000 after acquiring an additional 14,879 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $294.46 on Friday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $71.94 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The stock has a 50-day moving average price of $275.40 and a 200-day moving average price of $276.37.

FedEx (NYSE:FDX) last released 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 quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.55 EPS. As a group, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Ratings Changes

FDX has been the subject of several research analyst reports. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Stifel Nicolaus decreased their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. The Goldman Sachs Group dropped their price target on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. Finally, BMO Capital Markets lowered their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Company 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.