FedEx Co. (NYSE:FDX) Shares Sold by Cadence Bank

Cadence Bank decreased its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 19.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,820 shares of the shipping service provider's stock after selling 7,616 shares during the period. Cadence Bank's holdings in FedEx were worth $8,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock worth $45,000 after buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Loop Capital reduced their price objective on FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a research note on Monday, September 23rd. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group lowered their price objective on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. BMO Capital Markets dropped their price objective on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, September 20th. Two equities research 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, FedEx has an average rating of "Moderate Buy" and an average target price of $316.04.

FedEx Price Performance

FDX stock traded up $0.43 on Wednesday, reaching $303.41. The company had a trading volume of 919,390 shares, compared to its average volume of 1,798,639. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company's fifty day moving average is $276.80 and its 200 day moving average is $278.42. The company has a market cap of $74.13 billion, a P/E ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced 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 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 analyst estimates of $21.87 billion. During the same period in the previous year, the firm posted $4.55 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts forecast 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 paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.82%. FedEx's payout ratio is currently 34.05%.

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.