Malaga Cove Capital LLC Has $5.89 Million Stake in FedEx Co. (NYSE:FDX)

Malaga Cove Capital LLC decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,518 shares of the shipping service provider's stock after selling 3,167 shares during the period. FedEx comprises approximately 2.4% of Malaga Cove Capital LLC's portfolio, making the stock its 4th biggest holding. Malaga Cove Capital LLC's holdings in FedEx were worth $5,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SeaCrest Wealth Management LLC grew its position in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider's stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC increased its holdings in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider's stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC increased its holdings in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider's stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 1.3 %

Shares of FDX stock traded up $3.71 during mid-day trading on Thursday, hitting $283.77. The company's stock had a trading volume of 358,913 shares, compared to its average volume of 1,808,971. 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 Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market cap of $69.33 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.09 and a beta of 1.17. The business has a 50-day moving average price of $275.86 and a 200 day moving average price of $275.26.

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. Research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio is presently 34.05%.

Analyst Ratings Changes

Several analysts have weighed in on the company. 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 dropped their target price on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating for the company in a research report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a report on Friday, September 20th. TD Cowen dropped their price objective on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a report on Friday, September 20th. Finally, Bank of America reduced their target price on FedEx from $347.00 to $345.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average price target of $314.17.

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.