M&T Bank Corp Sells 1,894 Shares of FedEx Co. (NYSE:FDX)

M&T Bank Corp lessened its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,217 shares of the shipping service provider's stock after selling 1,894 shares during the quarter. M&T Bank Corp owned 0.06% of FedEx worth $38,922,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its holdings 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 in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at about $31,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the third quarter valued at about $47,000. Finally, Sachetta LLC raised its holdings in shares of FedEx by 29.1% during the 2nd 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 and hedge funds.

FedEx Stock Down 0.1 %

Shares of NYSE FDX traded down $0.15 during mid-day trading on Friday, reaching $275.73. The company had a trading volume of 8,092,276 shares, compared to its average volume of 1,820,057. The stock has a fifty day moving average of $282.71 and a two-hundred day moving average of $281.85. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. 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 issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the business posted $3.99 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities research analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued 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 2.00%. FedEx's dividend payout ratio is currently 35.18%.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. Robert W. Baird lowered their price objective on shares of FedEx from $340.00 to $320.00 and set an "outperform" 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. Stifel Nicolaus boosted their price objective on shares of FedEx from $321.00 to $368.00 and gave the stock a "buy" rating in a report on Friday. Barclays raised their target price on FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Finally, Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $324.88.

About FedEx

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.