Ascent Group LLC reduced its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 43.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,988 shares of the shipping service provider's stock after selling 4,677 shares during the quarter. Ascent Group LLC's holdings in FedEx were worth $1,639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new stake in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management grew its holdings 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 worth $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Stock Down 3.8 %
Shares of NYSE FDX traded down $11.41 during midday trading on Tuesday, reaching $285.28. The company's stock had a trading volume of 1,227,627 shares, compared to its average volume of 1,789,912. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a 50 day simple moving average of $277.83 and a 200-day simple moving average of $279.12. The stock has a market capitalization of $69.70 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.26 and a beta of 1.18.
FedEx (NYSE:FDX - Get Free Report) last released 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). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 EPS. Equities research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio is 34.05%.
Analyst Ratings Changes
A number of brokerages recently commented on FDX. Stephens reaffirmed an "overweight" rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research report on Friday, September 20th. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of FedEx from $350.00 to $366.00 and gave the stock an "overweight" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $316.68.
Read Our Latest Research Report on FDX
About FedEx
(
Free Report)
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.
Recommended Stories
Before you consider FedEx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FedEx wasn't on the list.
While FedEx currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
