GM Advisory Group LLC Reduces Stake in FedEx Co. (NYSE:FDX)

GM Advisory Group LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 77.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 926 shares of the shipping service provider’s stock after selling 3,270 shares during the quarter. GM Advisory Group LLC’s holdings in FedEx were worth $253,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC raised its holdings 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 acquired a new stake in FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $299.97 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market cap of $73.29 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $276.34 and its 200-day moving average price is $277.42.

FedEx (NYSE:FDX) last issued 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 for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Ratings Changes

FDX has been the subject of several recent research reports. Bernstein Bank lifted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Finally, Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.