Portfolio Design Labs LLC Has $1.98 Million Position in FedEx Co. (NYSE:FDX)

Portfolio Design Labs LLC cut its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 43.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,239 shares of the shipping service provider's stock after selling 5,471 shares during the period. Portfolio Design Labs LLC's holdings in FedEx were worth $1,981,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in FedEx by 1.3% during the third quarter. First Horizon Advisors Inc. now owns 3,935 shares of the shipping service provider's stock worth $1,077,000 after buying an additional 52 shares during the period. PCJ Investment Counsel Ltd. acquired a new stake in shares of FedEx in the 3rd quarter valued at $1,669,000. MWA Asset Management acquired a new position in shares of FedEx during the 3rd quarter worth about $658,000. Segall Bryant & Hamill LLC acquired a new position in FedEx in the third quarter valued at approximately $12,195,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $115,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FedEx stock traded down $5.03 during trading on Wednesday, hitting $288.03. 1,387,384 shares of the stock were exchanged, compared to its average volume of 1,801,055. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $275.82 and a 200-day moving average price of $276.94. The stock has a market capitalization of $70.37 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business earned $4.55 earnings per share. The business's quarterly revenue was down .5% on a year-over-year basis. As a group, equities 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 will be paid on Friday, January 3rd. Shareholders 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 annualized dividend and a yield of 1.92%. FedEx's dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FDX. Daiwa America lowered shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Stifel Nicolaus reduced their price objective on FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Raymond James decreased their target price on shares of FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Finally, TD Cowen reduced their price target on shares of FedEx from $334.00 to $328.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $316.04.

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.