WP Advisors LLC Sells 684 Shares of FedEx Co. (NYSE:FDX)

WP Advisors LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 23.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,179 shares of the shipping service provider’s stock after selling 684 shares during the quarter. WP Advisors LLC’s holdings in FedEx were worth $596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% in 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 bought a new position in FedEx in the 3rd quarter worth $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx in the third quarter valued at about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. 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, FedEx has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Performance

FDX stock opened at $294.46 on Monday. 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The business has a 50-day moving average price of $275.40 and a 200 day moving average price of $276.48. The company has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the company earned $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s 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.