MetLife Investment Management LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

MetLife Investment Management LLC cut its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,619 shares of the shipping service provider's stock after selling 1,768 shares during the period. MetLife Investment Management LLC's holdings in FedEx were worth $16,043,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the period. Ameriprise Financial Inc. increased its position in shares of 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. Ceredex Value Advisors LLC increased its stake in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock worth $101,022,000 after purchasing an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in shares of FedEx during the 2nd quarter valued at $46,475,000. Finally, Interval Partners LP boosted its holdings in FedEx by 408.3% in the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider's stock worth $57,296,000 after buying an additional 153,497 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on FDX shares. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Loop Capital lowered their price target on FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a report on Monday, September 23rd. StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a research note on Wednesday, November 13th. Daiwa America cut shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.04.

FedEx Stock Up 0.1 %

Shares of NYSE FDX traded up $0.41 during trading hours on Thursday, hitting $303.39. 919,462 shares of the stock were exchanged, compared to its average volume of 1,798,639. The company has a market cap of $74.13 billion, a PE ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. 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 fifty day moving average price of $276.80 and a 200-day moving average price of $278.42.

FedEx (NYSE:FDX - Get Free Report) last issued 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The business's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx's dividend payout ratio (DPR) is currently 34.05%.

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.