Armor Investment Advisors LLC Decreases Stake in FedEx Co. (NYSE:FDX)

Armor Investment Advisors LLC cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 72.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,584 shares of the shipping service provider's stock after selling 4,165 shares during the period. Armor Investment Advisors LLC's holdings in FedEx were worth $433,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital International Investors grew its holdings in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider's stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. grew its holdings in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider's stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider's stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. International Assets Investment Management LLC grew its holdings in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock valued at $674,336,000 after purchasing an additional 578,350 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

NYSE FDX traded up $4.64 during mid-day trading on Wednesday, reaching $280.06. 2,603,332 shares of the stock were exchanged, compared to its average volume of 1,815,713. 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 has a market capitalization of $68.43 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The business's 50 day moving average is $276.19 and its 200-day moving average is $275.22.

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 the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $4.55 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several research firms have issued reports on FDX. UBS Group lowered their price objective on shares of FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, September 20th. Bernstein Bank boosted their price objective 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. Finally, Daiwa America cut shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $314.17.

FedEx 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.