FedEx Co. (NYSE:FDX) Position Lowered by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its stake in shares of FedEx Co. (NYSE:FDX) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 91,449 shares of the shipping service provider’s stock after selling 2,129 shares during the quarter. Heritage Investors Management Corp’s holdings in FedEx were worth $25,028,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Evermay Wealth Management LLC lifted its position 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 worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter worth about $31,000. Central Valley Advisors LLC bought a new position in FedEx in the second quarter worth about $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% in 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 lifted its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.2 %

NYSE FDX traded up $0.48 on Tuesday, hitting $271.66. 49,575 shares of the stock were exchanged, compared to its average volume of 1,807,664. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $66.37 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.10 and a beta of 1.17. The company’s 50-day moving average price is $276.58 and its two-hundred day moving average price is $275.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FDX. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Citigroup initiated coverage on shares of FedEx in a report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price on the stock. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Finally, Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

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.