Ascent Wealth Partners LLC Sells 57 Shares of FedEx Co. (NYSE:FDX)

Ascent Wealth Partners LLC lessened its stake in FedEx Co. (NYSE:FDX) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,633 shares of the shipping service provider’s stock after selling 57 shares during the quarter. Ascent Wealth Partners LLC’s holdings in FedEx were worth $2,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new stake in FedEx during the 3rd quarter valued at $31,000. Central Valley Advisors LLC bought a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd 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. bought a new stake in FedEx during the 3rd quarter valued at $47,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of recent analyst reports. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Loop Capital reduced their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Trading Up 1.3 %

FDX stock traded up $3.66 during trading on Thursday, reaching $283.72. The company had a trading volume of 91,525 shares, compared to its average volume of 1,807,733. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a market cap of $69.32 billion, a P/E ratio of 17.28, a PEG ratio of 1.09 and a beta of 1.17. The business has a 50 day moving average of $275.86 and a 200 day moving average of $275.26. 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 (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the company earned $4.55 earnings per share. FedEx’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 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.