FedEx Co. (NYSE:FDX) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its stake in shares of FedEx Co. (NYSE:FDX) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,656 shares of the shipping service provider’s stock after selling 152 shares during the period. Private Trust Co. NA’s holdings in FedEx were worth $727,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the second quarter valued at about $39,000. Abound Wealth Management increased its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FDX shares. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI cut their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Performance

Shares of FDX stock opened at $302.95 on Wednesday. The company has a market cap of $74.02 billion, a P/E ratio of 18.69, a PEG ratio of 1.25 and a beta of 1.17. The business has a 50 day moving average of $276.70 and a two-hundred day moving average of $278.25. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 earnings per share. As a group, analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.82%. FedEx’s dividend payout ratio 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.