New South Capital Management Inc. Sells 2,440 Shares of FedEx Co. (NYSE:FDX)

New South Capital Management Inc. lessened its stake in FedEx Co. (NYSE:FDX - Free Report) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,696 shares of the shipping service provider's stock after selling 2,440 shares during the quarter. FedEx comprises about 1.9% of New South Capital Management Inc.'s holdings, making the stock its 21st largest holding. New South Capital Management Inc. owned approximately 0.07% of FedEx worth $47,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Evermay Wealth Management LLC increased its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the third quarter valued at $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the second quarter valued at $39,000. Abound Wealth Management increased its holdings 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 valued at $45,000 after purchasing an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth about $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE:FDX traded down $2.47 during midday trading on Tuesday, hitting $287.32. 1,235,529 shares of the stock were exchanged, compared to its average volume of 1,809,404. The stock has a market cap of $70.20 billion, a P/E ratio of 17.73, a PEG ratio of 1.15 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a 50 day moving average price of $275.18 and a 200-day moving average price of $275.69.

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 analysts' consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.92%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a research report on Monday, September 23rd. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Finally, Bank of America reduced their price objective 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $315.42.

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.