Caprock Group LLC trimmed its holdings in FedEx Co. (NYSE:FDX - Free Report) by 17.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,586 shares of the shipping service provider's stock after selling 1,760 shares during the quarter. Caprock Group LLC's holdings in FedEx were worth $2,362,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the third quarter worth $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management raised its position 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 in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in FedEx in the third quarter worth about $47,000. Institutional investors own 84.47% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on FDX shares. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Hsbc Global Res downgraded FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research note on Friday, September 20th. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $316.04.
Get Our Latest Stock Analysis on FDX
FedEx Price Performance
Shares of FDX stock traded down $5.03 during mid-day trading on Wednesday, reaching $288.03. The stock had a trading volume of 1,387,384 shares, compared to its average volume of 1,801,055. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $275.82 and a 200 day simple moving average of $276.94. The company has a market cap of $70.37 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.
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 (EPS) for the quarter, missing analysts' consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm's revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.
FedEx Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. FedEx's dividend payout ratio (DPR) is 34.05%.
FedEx Profile
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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.
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