FedEx Co. (NYSE:FDX) Stock Holdings Lessened by Verus Capital Partners LLC

Verus Capital Partners LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,413 shares of the shipping service provider’s stock after selling 99 shares during the period. Verus Capital Partners LLC’s holdings in FedEx were worth $934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors lifted its holdings in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. lifted its stake in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. International Assets Investment Management LLC grew its position in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.9 %

Shares of FDX stock opened at $287.32 on Wednesday. The stock has a market cap of $70.20 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a fifty day moving average price of $275.18 and a 200 day moving average price of $275.69. FedEx Co. has a one year low of $234.45 and a one year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for 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%. FedEx’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. Analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s payout ratio is presently 34.05%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America lowered their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stifel Nicolaus decreased their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Raymond James dropped their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Citigroup upped their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $315.42.

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.