FedEx Co. (NYSE:FDX) Shares Sold by Fmr LLC

Fmr LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 16.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,786,062 shares of the shipping service provider’s stock after selling 919,375 shares during the period. Fmr LLC’s holdings in FedEx were worth $1,309,849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evermay Wealth Management LLC raised its stake in shares of FedEx by 72.7% in 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 in the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% in the 2nd 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 period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the third quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America reduced their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna reduced their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. TD Cowen decreased their price objective 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. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Trading Down 0.7 %

NYSE FDX opened at $302.95 on Wednesday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The firm has a market cap of $74.02 billion, a PE ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.17. The firm’s fifty day moving average is $276.70 and its two-hundred day moving average is $278.25. 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 quarterly earnings data 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 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 company earned $4.55 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.