FedEx Co. (NYSE:FDX) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its stake in FedEx Co. (NYSE:FDX) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,801 shares of the shipping service provider’s stock after selling 211 shares during the quarter. Financial Counselors Inc.’s holdings in FedEx were worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Czech National Bank lifted its position in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth approximately $9,226,000. Raymond James & Associates increased its stake in FedEx by 6.9% in the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in FedEx during the second quarter worth about $22,052,000. Finally, Versor Investments LP acquired a new stake in FedEx in the 3rd quarter worth about $2,096,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.2 %

Shares of NYSE:FDX opened at $302.74 on Friday. The firm has a market cap of $73.97 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The company has a fifty day simple moving average of $277.83 and a 200 day simple moving average of $278.84. 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 Co. has a 12-month low of $234.45 and a 12-month 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 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Susquehanna dropped their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $316.04.

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.