Boston Family Office LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

Boston Family Office LLC reduced its position in FedEx Co. (NYSE:FDX) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,465 shares of the shipping service provider’s stock after selling 325 shares during the quarter. Boston Family Office LLC’s holdings in FedEx were worth $2,317,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management raised 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 purchasing an additional 95 shares during the period. Finally, Sachetta LLC grew 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 valued at $49,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $299.97 on Monday. The company has a fifty day moving average price of $276.34 and a two-hundred day moving average price of $277.68. The firm has a market capitalization of $73.29 billion, a PE ratio of 18.51, a P/E/G ratio of 1.25 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 company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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 the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the business posted $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. FedEx’s payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of analyst reports. Susquehanna dropped their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. BMO Capital Markets dropped 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. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen lowered their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.04.

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.