Peapack Gladstone Financial Corp Sells 3,209 Shares of FedEx Co. (NYSE:FDX)

Peapack Gladstone Financial Corp lessened its position in FedEx Co. (NYSE:FDX) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,930 shares of the shipping service provider’s stock after selling 3,209 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in FedEx were worth $15,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp increased its stake in FedEx by 251.8% in the third quarter. Synovus Financial Corp now owns 14,936 shares of the shipping service provider’s stock valued at $4,087,000 after acquiring an additional 10,690 shares during the last quarter. Tidal Investments LLC lifted its position in FedEx by 18.9% in the third quarter. Tidal Investments LLC now owns 18,870 shares of the shipping service provider’s stock valued at $5,164,000 after purchasing an additional 2,994 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in FedEx by 42.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,372 shares of the shipping service provider’s stock valued at $2,839,000 after purchasing an additional 3,078 shares during the last quarter. World Investment Advisors LLC lifted its position in FedEx by 27.5% in the third quarter. World Investment Advisors LLC now owns 10,836 shares of the shipping service provider’s stock valued at $2,966,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in FedEx by 8.5% in the third quarter. Sanctuary Advisors LLC now owns 36,256 shares of the shipping service provider’s stock valued at $10,876,000 after purchasing an additional 2,845 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.9 %

Shares of NYSE:FDX opened at $283.80 on Friday. The company has a market cap of $69.34 billion, a P/E ratio of 17.51, a PEG ratio of 1.17 and a beta of 1.18. 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 Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock’s fifty day moving average price is $280.84 and its 200-day moving average price is $280.63.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is 34.05%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. 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 report on Friday, September 20th. Finally, Robert W. Baird decreased their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

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.