FedEx Co. (NYSE:FDX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in FedEx Co. (NYSE:FDX - Free Report) by 7.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,368 shares of the shipping service provider's stock after selling 5,946 shares during the quarter. Janney Montgomery Scott LLC's holdings in FedEx were worth $20,627,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the 3rd 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 purchased a new position in shares of FedEx in the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the second quarter valued at $39,000. Abound Wealth Management boosted 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 buying an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FDX shares. Stephens reaffirmed an "overweight" rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. BMO Capital Markets reduced their target price on FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a research note on Friday, September 20th. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. StockNews.com lowered FedEx from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, TD Cowen cut their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.17.

FedEx Trading Up 1.7 %

Shares of FDX stock traded up $4.64 during mid-day trading on Wednesday, reaching $280.06. The company's stock had a trading volume of 2,603,332 shares, compared to its average volume of 1,815,713. 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 firm has a market capitalization of $68.43 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. The company's 50 day simple moving average is $275.86 and its 200-day simple moving average is $275.26. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during 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 company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business earned $4.55 earnings per share. On average, research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

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

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.