FedEx Co. (NYSE:FDX) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in FedEx Co. (NYSE:FDX - Free Report) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 688,900 shares of the shipping service provider's stock after selling 3,900 shares during the period. Swiss National Bank owned 0.28% of FedEx worth $188,538,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in 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 during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on FDX. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a report on Friday, September 20th. Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a "buy" rating for the company in a report on Friday, September 20th. Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a report on Friday, September 20th. Finally, BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a "market perform" rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $316.04.

FedEx Stock Performance

Shares of NYSE:FDX traded up $0.75 during trading hours on Monday, hitting $295.21. The stock had a trading volume of 1,459,974 shares, compared to its average volume of 1,804,359. The stock's fifty day simple moving average is $275.40 and its 200 day simple moving average is $276.48. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm has a market capitalization of $72.13 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. 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 posted its quarterly earnings data 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). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company's revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

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 $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

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.