Barnes Pettey Financial Advisors LLC Reduces Holdings in FedEx Co. (NYSE:FDX)

Barnes Pettey Financial Advisors LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,354 shares of the shipping service provider’s stock after selling 80 shares during the period. Barnes Pettey Financial Advisors LLC’s holdings in FedEx were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. Wealthcare Advisory Partners LLC increased its position in shares of FedEx by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,924 shares of the shipping service provider’s stock worth $558,000 after acquiring an additional 137 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in FedEx by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,508 shares of the shipping service provider’s stock worth $10,868,000 after purchasing an additional 2,241 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of FedEx by 20.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock valued at $1,322,000 after purchasing an additional 785 shares in the last quarter. Grimes & Company Inc. purchased a new position in shares of FedEx during the 1st quarter valued at approximately $222,000. Finally, Founders Financial Securities LLC bought a new stake in shares of FedEx in the first quarter worth $718,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FDX shares. Citigroup began coverage on shares of FedEx in a research note on Wednesday, October 9th. They set a “buy” rating and a $301.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

NYSE FDX opened at $272.12 on Friday. The company has a 50-day moving average price of $278.83 and a two-hundred day moving average price of $274.81. The stock has a market cap of $66.48 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.08 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. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. Analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

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.