Caprock Group LLC Sells 1,760 Shares of FedEx Co. (NYSE:FDX)

Caprock Group LLC lowered its position in shares of FedEx Co. (NYSE:FDX) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,586 shares of the shipping service provider’s stock after selling 1,760 shares during the quarter. Caprock Group LLC’s holdings in FedEx were worth $2,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital International Investors boosted its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. International Assets Investment Management LLC boosted its stake in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares during the last quarter. Finally, Empyrean Capital Partners LP bought a new stake in shares of FedEx in the 2nd quarter worth approximately $46,475,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $293.02 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $71.59 billion, a PE ratio of 18.08, a PEG ratio of 1.23 and a beta of 1.17. The company’s fifty day moving average is $275.82 and its 200 day moving average is $276.94. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the firm posted $4.55 EPS. The company’s revenue was down .5% on a year-over-year basis. Research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

FedEx Company 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.