Clarkston Capital Partners LLC Reduces Position in FedEx Co. (NYSE:FDX)

Clarkston Capital Partners LLC trimmed its holdings in FedEx Co. (NYSE:FDX - Free Report) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,008 shares of the shipping service provider's stock after selling 4,827 shares during the period. FedEx makes up 1.8% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 20th biggest holding. Clarkston Capital Partners LLC owned approximately 0.14% of FedEx worth $95,243,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FDX. Evermay Wealth Management LLC grew its position 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 acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the third quarter worth $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the second quarter worth $39,000. Abound Wealth Management raised 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 valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the third quarter valued at about $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Up 0.3 %

Shares of FDX traded up $0.75 on Monday, hitting $295.21. 1,459,974 shares of the stock traded hands, compared to its average volume of 1,804,359. FedEx Co. has a one year low of $234.45 and a one year 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. The business has a 50 day simple moving average of $275.40 and a 200 day simple moving average of $276.48. The company has a market capitalization of $72.13 billion, a PE ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal 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 $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. Morgan Stanley cut shares of FedEx from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Bernstein Bank boosted their price target on shares of FedEx from $305.00 to $337.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Susquehanna reduced their price target on shares of FedEx from $345.00 to $330.00 and set a "positive" rating on the stock in a research report on Friday, September 20th. Raymond James reduced their price target on shares of FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Finally, Barclays upped their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Two research 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. According to MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $316.04.

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.