Focused Investors LLC Trims Holdings in FedEx Co. (NYSE:FDX)

Focused Investors LLC cut its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 498,800 shares of the shipping service provider's stock after selling 9,300 shares during the quarter. FedEx makes up about 4.1% of Focused Investors LLC's holdings, making the stock its 10th biggest position. Focused Investors LLC owned approximately 0.20% of FedEx worth $136,512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC raised 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 during the period. Highline Wealth Partners LLC bought a new stake in FedEx in the third quarter worth about $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the second quarter worth about $39,000. Abound Wealth Management raised its position in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC raised its position in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. HSBC lowered shares of FedEx from a "buy" rating to a "hold" rating and set a $300.00 price target on the stock. in a research report on Friday, September 20th. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a report on Friday, September 20th. TD Cowen cut their price target on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Citigroup boosted their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, Bernstein Bank boosted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $316.04.

FedEx Stock Performance

Shares of NYSE FDX traded up $2.17 during trading on Friday, reaching $294.46. 1,506,570 shares of the company traded hands, compared to its average volume of 1,346,451. The firm has a 50 day simple moving average of $275.40 and a 200-day simple moving average of $276.37. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $71.94 billion, a PE ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 EPS. Equities research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's payout ratio is 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.