EverSource Wealth Advisors LLC Lowers Position in FedEx Co. (NYSE:FDX)

EverSource Wealth Advisors LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,509 shares of the shipping service provider’s stock after selling 219 shares during the period. EverSource Wealth Advisors LLC’s holdings in FedEx were worth $3,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC raised its stake in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC grew its position in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC increased its stake in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC raised its position in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted its stake 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 buying an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 0.6 %

Shares of NYSE FDX traded down $1.76 during midday trading on Wednesday, hitting $291.30. The company’s stock had a trading volume of 48,532 shares, compared to its average volume of 1,795,090. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The business’s fifty day simple moving average is $275.82 and its two-hundred day simple moving average is $276.94. The firm has a market capitalization of $71.17 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 EPS. On average, equities analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is presently 34.05%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FDX shares. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Evercore ISI lowered their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Raymond James reduced their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $316.04.

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.