Intech Investment Management LLC Decreases Stock Position in FedEx Co. (NYSE:FDX)

Intech Investment Management LLC decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 34.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,344 shares of the shipping service provider's stock after selling 50,454 shares during the quarter. Intech Investment Management LLC's holdings in FedEx were worth $26,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its stake in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management increased its stake in shares of FedEx by 175.9% during the 2nd 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. acquired a new position in shares of FedEx during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Down 1.7 %

Shares of FedEx stock opened at $288.03 on Thursday. The business's 50 day simple moving average is $275.89 and its 200 day simple moving average is $277.02. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market cap of $70.37 billion, a PE ratio of 17.77, a P/E/G ratio of 1.22 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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). 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 prior year, the business posted $4.55 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared 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 is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.92%. FedEx's dividend payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FDX. Susquehanna decreased their target price on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a report on Friday, September 20th. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a report on Friday, September 20th. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a report on Monday, September 23rd. StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased their price target on FedEx from $333.00 to $332.00 in a report 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 given a buy rating to the company's stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $316.04.

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.

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