Ascent Wealth Partners LLC Cuts Position in FedEx Co. (NYSE:FDX)

Ascent Wealth Partners LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 7,633 shares of the shipping service provider’s stock after selling 57 shares during the quarter. Ascent Wealth Partners LLC’s holdings in FedEx were worth $2,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the third quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management grew 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 buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FDX. TD Cowen cut their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Raymond James dropped their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

FDX traded up $3.66 during trading on Thursday, hitting $283.72. 91,525 shares of the company traded hands, compared to its average volume of 1,807,733. The company has a market cap of $69.32 billion, a PE ratio of 17.28, a P/E/G ratio of 1.09 and a beta of 1.17. The stock’s 50-day simple moving average is $275.86 and its two-hundred day simple moving average is $275.26. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. 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 (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is currently 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.