Commerce Bank Sells 357 Shares of FedEx Co. (NYSE:FDX)

Commerce Bank decreased its position in shares of FedEx Co. (NYSE:FDX) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,398 shares of the shipping service provider’s stock after selling 357 shares during the quarter. Commerce Bank’s holdings in FedEx were worth $5,856,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the third quarter worth $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth about $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Sachetta LLC increased its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 2.5 %

NYSE:FDX opened at $295.34 on Friday. The company has a market capitalization of $72.16 billion, a PE ratio of 18.22, a P/E/G ratio of 1.22 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock’s 50 day moving average price is $276.07 and its 200 day moving average price is $277.14. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

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

FedEx Dividend Announcement

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

Analyst Upgrades and Downgrades

FDX has been the topic of a number of analyst reports. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI lowered their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Barclays increased their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Stephens reiterated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.