M&T Bank Corp Sells 1,894 Shares of FedEx Co. (NYSE:FDX)

M&T Bank Corp lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,217 shares of the shipping service provider’s stock after selling 1,894 shares during the quarter. M&T Bank Corp owned 0.06% of FedEx worth $38,922,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Wells Fargo & Company raised their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Performance

FedEx stock opened at $275.73 on Friday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market cap of $67.37 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm’s fifty day moving average price is $282.71 and its 200-day moving average price is $281.85.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the business posted $3.99 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 yield of 2.00%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

FedEx 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.